Panda Green Energy warns of US$30 million-plus loss for 2018

Facebook
Twitter
LinkedIn
Reddit
Email
Panda Green expects to report losses of over RMB200 million (US$29.6 million) in 2018. Image: Panda Green

China-based PV energy provider (PVEP) Panda Green Energy Group has issued a profit warning for the full year 2018. 

Panda Green expects to report losses of over RMB200 million (US$29.6 million) in 2018, compared to a net profit of approximately RMB153 million in 2017. The company had previously warned of a loss for the first-half of 2018 of around RMB 80 million (US$11.7 million), which was primarily due to ‘fair loss’ evaluations on acquired PV power plants.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

This was carried over into the second-half of 2018, according to the company and compounded by only four solar power projects acquisitions in 2018, compared to 13 acquisitions in 2017 which generated approximately RMB971 million gain on a ‘bargain purchase’ accounting basis. 

Panda Green said it had reached an aggregate installed capacity of power plants of 2.3GW, an increase of around 11.6%, compared with 2017. Capacity growth had been 62% in 2017 (2,087.3MW), compared with 2016, indicating a strong decline in capacity growth in 2018.

PV Tech recently highlighted that silicon wafer furnace to downstream PV power plant owner, Beijing Jingyuntong Technology Co (JYT) has reported its PV power plant capacity in 2018 totalled 1,239.11MW, an 18% increase over the previous year.

However, the capacity growth in 2017 had been over 61%, reaching a total of 1,150.39MW, compared to 651.47MW at the end of 2016, indicating a significant slowdown in capacity growth in 2018.

A key reason for the slowdown in capacity growth had been the China’s 531 New Deal implemented at the end of May, 2018 cutting utility-scale and DG PV power plant support. 

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

September 8, 2025
German inverter manufacturer SMA Solar is to restart US manufacturing for the first time in ten years.
September 8, 2025
Euclid Power has raised US$20 million Series A round led by Venrock to develop AI-driven platform and services for renewables. 
September 8, 2025
Elmya Energy and Atlantica have formed a joint venture to develop 4GW of utility-scale renewable energy projects in the US. 
September 8, 2025
Vaisala has launched a new hail alert system aimed at solar operators grappling with an increasingly costly problem for PV installations.
September 8, 2025
Vikram Solar has won a 336MW module supply agreement from L&T Construction for the 2.3GW Khavda solar park in Gujarat. 
September 8, 2025
ClearGen has entered into a US$150 million partnership with Davis Hill to build 245MW of community and commercial solar projects in the US.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines