BEIJING (AP) — One of the world’s biggest solar panel manufacturers, Suntech, says it has defaulted on $541 million in payments to bondholders after a downturn battered the global industry.
The announcement Monday by Suntech Power Holdings Ltd. was a severe setback for one of the renewable energy industry’s most successful companies.
Stay informed.Stay ahead.
Join Washington Examiner for unlimited access to the news, analysis, and commentary that matter most.
See Options
Already a member? Log in
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.
Suntech CEO David King said in a statement the company was “exploring strategic alternatives with lenders and potential investors” but gave no details.
Suntech and other solar equipment manufacturers have been hit hard by a price-cutting war and a plunge in global demand.
