The Chinese Billionaire faces bankruptcy Xiaofeng Peng used to be one of the richest Chinese billionaires in 2008, when his company LDK Solar (LDK) went into an unprecedented expansion spree. The company which concentrated on making solar wafers made grandiose plans to build a huge polysilicon plant. The company took on massive amounts of debt [...]

GCL Poly Granted Credit Line In the wake of overcapacity and the Chinese Government’s decision to discontinue giving financial aid to 80% of its companies, another Chinese company was successful in bagging a whopping US$800 million (CNY 5 billion) from the China Development Bank. This decision came after GCL Poly (GCL) decided to get its [...]

Volume/ Price Quota by China Europe recently negotiated with China to set up a volume and price quota for solar panels imported from China. This was done to stop a potentially highly damaging trade war between these two blocs and prevent the complete decimation of the solar manufacturing industry in Europe. Europe set up a [...]

Chaori Solar Energy defaults its Bond Payments Shanghai Chaori Solar Energy has officially defaulted on its domestic bond payments after the company could not come up with the money to make a $14 million payment. Note many of the Tier 2 and Tier 3 solar panel makers in China are in deep trouble after a [...]

Jinko Solar buys Topoint Solar Factories Jinko Solar is all set to get the solar factories of Topoint group for a cheap price, as consolidation hits the Chinese solar industry. The solar boom in 2010 had led all sorts of industrial groups to enter the solar industry. Many of these new ventures neither have the [...]

Chinese Government cuts 80% Solar Support China has been going through a massive overinvestment spree in the last 5 years as the monetary authorities loosened conditions in the aftermath of the Lehman crisis. The credit growth in China has been truly spectacular and has resulted in increased fragilities in the banking system. The recent spurt [...]