Bankrupt PV module manufacturer Shanghai Chaori Solar has stopped production at its Shanghai headquarters as customers cancel orders and it struggles to generate cash flow.
The US government has announced plans to smooth the path for the development of commercial-scale solar with US$15 million being set aside for community-lead projects.
According to new analysis from market research firm IHS sufficient PV module supply outside China and Taiwan exists to meet expected demand in the US in 2014, dampening panic buying before a US anti-dumping judgement due later this year.
Hanergy has signed a memorandum of understanding (MoU) with renewable energy asset management firm Greenbacker Renewable Energy Corporation for the funding of up to 126MW of PV projects in the US.
Plans have been agreed at the aleo solar EGM for the company to wind down through a liquidation, with as much as €50 million (US$69.1 million) of support provided by parent company Robert Bosch in order to avoid bankruptcy proceedings.
The company noted that it could not pay accrued interest and fees, which could result in the bank foreclosing. SPI Solar had total company deficit of US$56.1 million at the end of 2013, much of it owed to LDK Solar.
