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China Development Bank Renews Solar Support, Journal Says

China Development Bank Corp. plans to renew a pledge of support for 12 solar companies, an indication the government is pressing for consolidation within the industry that’s suffering from excess capacity.

The state-owned lender is preparing to recommend stronger financial support for Suntech Power Holdings Co., Trina Solar Ltd. and Yingli Solar Co., the official China Securities Journal reported, citing an unidentified person. It also named Hareon Solar Technology Co., Shanghai Chaori Solar Energy Science & Technology Co. and Sungrow Power Supply Co., without disclosing the other six companies in line for priority funding.