Shunfeng backs out of geothermal energy deal

Facebook
Twitter
LinkedIn
Reddit
Email

Shunfeng Photovoltaic, the owner of module maker Wuxi Suntech, has announced that it has backed out of a proposed deal for a geothermal heat pump company.

It had previously announced in June that it was in advanced talks with a number of companies in different technology fields from lithium-based energy storage to a European PV project developer.

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

In a statement to the Hong Kong stock exchange Shunfeng said it had decided against the investment but that the other opportunities revealed in the 12 June announcement remained on the table.

In December 2013, Shunfeng’s president Zhang Yi told PV Tech the company was focused on expanding its PV project business but that it would remain open-minded on other clean energy acquisitions.

“We are not going to refuse any opportunities for introducing any new ideas, like hydropower, wind turbines, or bio-energy. But solar energy will remain as the major business,” he said.

Shunfeng, previously a wafer and cell manufacturer only, has a stated aim of becoming a green energy provider.

Read Next

September 17, 2025
US renewables developer Longroad Energy has reached financial close for its 400MW 1000 Mile solar project in the US state of Texas.
September 17, 2025
Spanish renewables developer and operator Acciona Energía has commissioned its 412MWp Juna solar PV plant in Kawani village in the western state of Rajasthan. 
September 17, 2025
Spanish IPP Velto Renewables has acquired a portfolio of 53 operational solar assets in Spain with a combined capacity of 260MW.
September 17, 2025
Struggling Swiss solar manufacturer Meyer Burger has formally entered into a debt moratorium, with the possibility of rescuing the entire group now looking unlikely.
September 17, 2025
Nexamp has secured US$350 million through a long-term financing facility to expand its 6GW utility-scale solar and battery storage pipeline in the US. 
September 17, 2025
Chinese module producer DAS Solar is planning a 5GW manufacturing facility focused on producing high-efficiency back contact cells.

Subscribe to Newsletter

Upcoming Events

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
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA