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News Breaks | | | | March 20, 2013 | | 08:06 EDT |  | STP | Suntech announces petition of insolvency and restructuring of Wuxi Suntech
Suntech announced that a group of eight Chinese banks filed a petition for insolvency and restructuring of its Chinese subsidiary Wuxi Suntech Power Holdings in the Wuxi Municipal Intermediate People's Court in Jiangsu Province, China. Wuxi Suntech notified the Court that it will not file an objection against the petition. The company expects that the Court will decide whether or not to accept the petition in the next few days. | |
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News For STP From The Last 14 Days Check below for free stories on STP the last two weeks. |
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| June 18, 2013 | | 09:15 EDT |  | STP | China to generate more heat using solar energy, China Daily says
 Subscribe for More Information | | | 09:02 EDT | | STP | Suntech subsidiary granted definitive moratorium
Suntech announced that Suntech Power International, the company's principal operating subsidiary in Europe, has been granted a definitive moratorium on creditor claims from the judicial authorities in Schaffhausen, Switzerland. The moratorium is for a six month period and may be extended thereafter. Previously, on April 9, SPI had been granted a provisional moratorium for two months on creditor claims as a result of over-indebtedness. The majority of SPI's debt is Suntech inter-company debt. Other than the insolvency and restructuring of Suntech Holdings' Chinese subsidiary Wuxi Suntech Power and the SPI composition proceedings, Suntech Holdings is not aware of any similar proceedings regarding any of its other entities. | | | June 17, 2013 | | 12:29 EDT |  | STP | On The Fly: Midday Wrap
Subscribe for More Information | | | 10:40 EDT | | STP | Solar stocks jump after China backs industry
Chinese solar energy stocks are jumping after the Chinese government ordered power producers and lenders to provide more support to the industry. WHAT'S NEW: China's government announced that electric grid companies should give priority to obtaining power from solar plants, Bloomberg reported on Saturday. Lenders must help Chinese solar companies raise money, the news service also quoted the government as saying. TODAY'S PRICE ACTION: In mid-morning trading, LDK Solar (LDK) rallied 9.5% to $1.50, Suntech Power (STP) jumped 7% to $1, Trina Solar (TSL) surged 7% to $6.35. Yingli Green jumped 10% to $3.18, and Jinko Solar (JKS) climbed 7% to $9.40. WHAT'S NOTABLE: The EU has imposed high tariffs on Chinese solar companies, as it has accused the companies of selling solar panels at artificially low prices. Some EU countries have said that the dispute with China should be resolved quickly. | | | June 15, 2013 | | 15:50 EDT | | STP | China to boost solar industry with easier financing, Bloomberg says
Subscribe for More Information | | | June 13, 2013 | | 06:26 EDT | | STP | IHS: Europe solar installations to fall to 11.6GW in 2013, DigiTimes says
Europe solar installations are expected to fall by more than 6GW in 2013, reports DigiTimes, citing IHS. Anti-dumping duties on China-made modules is expected to cause 1.3GW of that decline. Reference Link | | | June 12, 2013 | | 13:09 EDT | | STP | IHS still expects solar installations to grow by at least 10% this year
European photovoltaic installations are forecast to fall by more than 6 gigawatts, or GW, in 2013, with 1.3 GW of this decline attributed to incoming EU anti-dumping duties on Chinese modules according to a recently released analysis from IHS, the firm disclosed yesterday. Despite this dramatic fall, IHS still predicts global installations will grow at a double-digit rate to 35 GW in 2013 driven by a surge in demand in Asia. In its latest quarterly analysis on global photovoltaic installation demand, IHS cut has cut its forecast for the second half of 2013 in Europe by more than 1.3 GW, citing the anti-dumping tariffs that came into force on June 6. As a result of these duties, and several other factors, including changes to incentive systems, IHS predicts total European PV installations will fall to 11.6 GW in 2013, down 33 percent from 17.7 GW in 2012.Reference Link | | | June 11, 2013 | | 11:46 EDT | | STP | Solar names fall after LDK highlights polysilicon price weakness
Subscribe for More Information | | | June 6, 2013 | | 09:45 EDT | | STP | China to up solar subsidies in face of EU tariffs, Want China Times says
In response to anti-dumping tariffs imposed by the European Commission, the Chinese government will introduce new strategies and increase the amount of subsidies available for its domestic solar industry, reported Want China Times, citing the Chinese-language Commercial Times. Reference Link | |
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