Updated. PricewaterhouseCoopers, Suntech Power Holdings' appointed liquidators in the Cayman Islands have claimed that Wuxi Suntech is owned by Power Solar System Co., a direct subsidiary of Suntech Power Holdings, casting doubt on the deal to sell the PV manufacturer's Chinese arm.
China-based PV manufacturer, Goldpoly New Energy, has reached an agreement with Kunlun, a subsidiary of China National Petroleum Corporation, to acquire a 500MW PV project portfolio in China.
The joint secretary for the Ministry of New and Renewable Energy (MNRE), Shri Tarun Kapoor said invitations for tenders for the 4GW mega solar project in India will begin in a few months.
Specialist encapsulant supplier, STR Holdings, continues to struggle following the loss of its major customer, First Solar, last year, as third quarter sales continued to decline, forcing further plant closures and restructuring efforts.
The largest solar farm in the UK, the 33MWp plant in Wymeswold, Leicestershire, has been sold by Hazel Capital Solar and SAG Solarstrom for £43.7 million (US$70 million) to institutional investor Foresight Solar Fund.
Having been granted a provisional liquidation order in the Cayman Islands, Suntech Power Holdings has also appointed PricewaterhouseCoopers to support its restructuring efforts.
Thin-film developer Ascent Solar (Ascent), has released financial results for the third quarter of this year in which the company reported that product revenue was up by US$102,000 over the previous quarter.
Hoku Materials’ never-used polysilicon plant in Idaho has sold at auction for US$5.3 million. The company had invested an estimated US$700 million in the facility.
Despite increased shipments and sales reported in its second quarter (FY) results, China Sunergy has been forced to lower quarterly and full-year guidance due Chinese banks tightening credit facilities, restricting the company’s ability to purchase materials and products for production.
