Deals
Suntech to Sell Project, Discounted Panels to Shunfeng
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Suntech Power Holdings Co., owner of the Chinese solar manufacturer forced into bankruptcy in March, agreed to sell a project and discounted panels to Shunfeng Photovoltaic International Ltd. for 93 million yuan ($15.2 million).
Shunfeng bought a 99 percent stake in the project for 3.96 million yuan, it said in a Hong Kong Stock Exchange filing today. Shunfeng, which hasn’t developed projects before, will use 29.7 megawatts of Suntech panels to build the Kumul solar plant in China’s Xinjiang region near the China-Mongolia border.