Financial & Legal

According to reports, Suntech Power Holdings Dr. Shi, the ousted Executive Chairman and current CEO, David King have both been detained by Chinese police.

Solar manufacturer Bosch Solar Energy is reviewing its future in the solar industry amid heavy losses suffered in 2012.

Professional business bank Bridge Bank Energy and Infrastructure Group (EIG) has announced the closure of a US$13 million financing deal for several solar installations in the US.

Germany's S.A.G. Solarstrom has received a solar financing commitment for EUR40 million (US$52 million) from Deutsche Bank.

Suntech Power Holdings has revealed that a group of eight Chinese banks have filed a petition for insolvency and restructuring of the company’s main manufacturing subsidiary, Wuxi Suntech.

Mitsubishi Corporation, Innovation Network Corporation of Japan (INCJ) and investment company Solar Ventures have acquired Solar Holding, which has a PV portfolio of 42MWp in Italy.

Italian PV installer Aion Renewables SpA will file for bankruptcy after Italian district court Reggio-Emilia rejected its insolvency plan, following its request in December 2012.

Long-standing and third ranked LDK Solar executive, Dr. Liangbao Zhu has resigned from the company with immediate effect.

GCL-Poly Energy Holdings reported around a US$432 million loss from its solar materials business in 2012, which includes polysilicon and solar wafers.

MEMC Electronic Materials has said it plans to drop its name that has been in existence for decades and take on its subsidiary SunEdison as the corporate moniker.