Shunfeng Photovoltaic in Talks on Financing for Expansion Plans

Shunfeng Photovoltaic International Ltd. (1165), a Hong Kong-based manufacturer of solar products, is in talks on financing for various projects and developments.

The company is exploring its options including debt and equity raisings, it said today in a statement to the Hong Kong stock exchange. China Business News reported yesterday that the company is likely to secure 100 billion yuan ($16 billion) in credit lines from China Development Bank Corp.

Financing is required for expansion, Shunfeng said without giving details. Shunfeng last week agreed to buy the inverter and building-integrated photovoltaics units of Sunways AG. (SWW)

Shunfeng Chairman Zhang Yi said in January that the company plans to install 3 gigawatts of solar projects this year as part of a plan to build 10 gigawatts in the three years through 2016.

To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Iain Wilson, Madelene Pearson

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