Shanghai Electric cancels acquisition agreement with GCL-Poly
GCL-Poly Energy Holdings has agreed with Shanghai Electric Group to terminate an acquisition agreement announced in early June, 2018 with Shanghai Electric Group to sell a 51% stake in polysilicon production subsidiary Jiangsu Zhongneng Polysilicon.
After multiple rounds of discussions and negotiations the size and complexity of the transaction meant it was difficult to reach a full agreement on the relevant acquisition terms and plans within a reasonable timeframe.
Both companies have agreed that the timing and conditions for proceeding with the deal were not mature enough.
The initial had been driven by the recent Chinese government’s decision to reduce support for new solar capacity.
Country updates
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August 02, 2018
46 MW Baiyunxian wind farm now in operation
The second phase of the construction of Baiyunxian Wind Farm in China was officially put into operation. The installation includes 23 sets of 2MW wind turbines with a total installed capacity of...
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August 02, 2018
ReneSola negotiating sale of 206.8 MW solar portfolio with Brookfield Asset Management
ReneSola has announced the signing of an exclusivity agreement with an affiliate of Brookfield Asset Management to negotiate the sale of distributed generation operating assets in ...
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July 18, 2018
Celanese signs LOI for the sale Nanjing ethanol unit and JV with Chengzhi
Celanese Corporation has signed a Letter of Intent (LOI) with Chengzhi Shareholding Co., Ltd for the sale of its 275,000 metric ton per year industrial ethanol unit at the Nanjing, Chi...
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July 02, 2018
First power has been generated from the project
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June 20, 2018
PTT subsidiary Global Power Synergy has agreed to buy Engie’s 69.1% stake in Glow Energy
PTT subsidiary Global Power Synergy has agreed to buy Engie’s 69.1% stake in Glow Energy. The deal will allow PTT to triple the size of its power generating arm, expanding capacity to 4,835 MW
