Diversified renewables firm Shunfeng International Clean Energy (SFCE) deal with Hong Kong property tycoon, Kin Ming Cheng, a major shareholder in SFCE is in doubt after the date to secure an agreement to purchase most of the manufacturing operations that included Wuxi Suntech has lapsed.
Diversified renewable energy firm Shunfeng International Clean Energy (SFCE) confirmed full-year 2018 losses of around RMB 1,706.0 million (US$254 million), while shipping a record 3.3GW of solar modules from its two manufacturing operations, Wuxi Suntech and Jiangsu Shunfeng Photovoltaic Technology Company.
Diversified renewables firm Shunfeng International Clean Energy (SFCE) is close to an agreement to sell its manufacturing operations, which include Wuxi Suntech, as well as other international operations, including power plant monitoring firm, meteocontrol to reduce debts of RMB12,295.3 million (US$1.83 billion).
Diversified renewable energy firm Shunfeng International Clean Energy (SFCE) expects to report a loss in 2018 of approximately US$254 million, due to PV product ASP declines and impairment charges to its manufacturing operations.
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Diversified renewables firm Shunfeng International Clean Energy (SFCE) is trying a second time to sell its solar PV manufacturing operations to major shareholder and Hong Kong property tycoon, Kin Ming Cheng for around RMB4.7 billion (US$684.24 million), compared to US$760 million in mid-2016.
China-based PV project developer GCL New Energy (GCL-NE), a subsidiary of leading clean energy conglomerate GCL Group announced that it had purchased PV modules from both Wuxi Suntech and Hanwha Q CELLS in order to meet Chinese FIT construction deadlines, instead of typically using sister company GCL System Integration’s (GCL-SI) PV modules.
As module suppliers adapt to the slowdown of Chinese module demand in 2018 and 2019, global EPCs and developers are likely to see new Asian-produced panels being offered for both rooftop and ground-mount installations.
China-based integrated PV module manufacturer Wuxi Suntech Power Co has recently renewed its 25-year module performance warranty cover with Munich Re Group and Ping An Insurance, the fifth consecutive year, Suntech has cooperated with the both insurance companies, since 2014
Since Chinese investments into major cell and module facilities started - more than 10 years ago - success ultimately has been driven by overseas market-share gains, above other technical or financial benchmarks that otherwise would be expected.
China-based integrated PV module manufacturer Wuxi Suntech Power Co said it had started supplying high-performance multicrystalline half-cut cell modules to European customers, offering power classes of 295/290W.
Diversified renewable energy firm Shunfeng International Clean Energy (SFCE) said it would continue to report a net loss for 2017, due to product ASP declines and PV power plant grid curtailments in China.