28 May '14, 3pm

Chinese Solar Manufacturer Wants To Become Solar Power Plant Developer, Too

Chinese Solar Manufacturer Wants To Become Solar Power Plant Developer, Too

Shunfeng plans to sell as many as 600 million new shares at not less than HK$10 apiece, according to a statement to the Hong Kong stock exchange. The company is also planning to change its name to Sunfu International Ltd. The new name and the share offering reflect the company’s expansion from a manufacturer to a power producer. It acquired Wuxi Suntech Power in April for 3 billion yuan ($480 million), the biggest panel maker in 2012, and this month agreed to buy an inverter company. A sister company owns a stake in the wafer supplier LDK Solar Co. Shunfeng Chairman Zhang Yi said in January that the company would install 3 gigawatts of solar systems this year. “The expansion has successfully transformed the group from, previously, an upstream solar products manufacturer into a fully integrated solar company with downstream solar-power generation assets,” according to a fil...

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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