PV module manufacturer, SolarWorld, has received shareholder approval to raise additional capital.
It emerged last week that shareholders voted for the at the company’s AGM in May as a measure to give management the ability to react to market conditions with greater speed and flexibility in the future.
SolarWorld did not specify the amount or provide further information.
SolarWorld has recently completed a lengthy restructuring to avoid bankruptcy, which included two bonds being restructured. The company has also received payments from Bosch as part of a deal to takeover its solar cell and module operations in Germany.
The company also claimed that it had recent secured a 50MW module supply deal for a utility-scale PV project that confirmed that its sales were recovering after the restructuring. No further details on the large order were provided.
SolarWorld had previously noted during the restructuring phase that it was unable to build PV power plants due to bankability issues. The company will report first half 2014 financial results on August 14.