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Shunfeng in talks to sell 300-MW solar portfolio in China

Solar panels. Featured Image: Jackiso/Shutterstock.com

April 25 (Renewables Now) - Shunfeng International Clean Energy Ltd (HKG:1165) is holding preliminary talks to divest certain solar power plants in China with a combined capacity of about 300 MW.

The company is looking to sell the facilities to one or more investors at a reasonable market price. It said in a statement that with this potential transaction it seeks to optimise the shareholding and asset structure of the group.

Shunfeng is also looking to raise funds by other ways, including through alternative refinancing and debt maturity dates extension.

The group announced previously that it had conditionally agreed to sell the subsidiary that owns solar module supplier Wuxi Suntech Power and includes its upstream manufacturing business and other overseas operations. The goal is to cut debt.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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