Shunfeng secures loan to bolster PV project business

Facebook
Twitter
LinkedIn
Reddit
Email

Shunfeng Photovoltaics International, the company revealed yesterday as a bidder for struggling Wuxi Suntech, has secured a HK$980,000,000 (US$126,000,000) loan to expand its PV project development business.

The company said in a stock exchange filing that the loan, from Hong Kong Bank, would be used to build PV power stations.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Further details were not given, but the company has been on an aggressive drive this year to expands project development business in China’s booming market.

In July it announced its acquisition of a 95% stake in almost 500MW of PV projects being developed by Hareon Solar and then last month revealed plans to build up to 1.5GW of PV capacity in China’s remote western Xinjiang province.

These expansion ambitions were underlined with the news this week that Shunfeng is bidding for the bankrupt Wuxi unit of beleaguered manufacturer Suntech. Shunfeng said the acquisition would bolster its PV manufacturing capabilities.

Read Next

June 6, 2025
Independent power producer (IPP) NOA Group has reached financial close on a 349MW solar PV project in South Africa.
June 6, 2025
France has registered zero or negative energy prices for 90% of days in May 2025, according to data from energy storage developer Storio Energy.
June 6, 2025
rPlus Energies has secured more than US$500 million for an 800MW solar-plus-storage project in Emery County, Utah, US.  
June 6, 2025
Eternal Sun has acquired German solar simulator provider Wavelabs, which has resulted in the formation of a new subsidy, Wavelabs Eternal Sun.
Premium
June 6, 2025
Europe must secure the 'strategic segments' of the solar supply chain, according to experts at a PV Tech panel at this year's Intersolar event.
June 6, 2025
Australia’s Solar Energy Industries Association (SEIA) has called on Australia’s climate change and energy minister, Chris Bowen, to “urgently intervene” on a rule change that could threaten to derail the uptake of rooftop solar PV.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece