Bottom line: Solar products maker Tianwei is likely to get a government bailout before it defaults on an upcoming bond payment, while a massive 2 GW solar farm being built by a new private equity fund is likely to get completed.
Tianwei struggles under huge debt
Two solar news items are drawing attention to both the opportunities and challenges facing this increasingly schizophrenic sector in China. A new mega-project is spotlighting the huge opportunities for new construction in the space, with word that a recently launched private equity fund plans to build a massive solar farm with a whopping 2 gigawatts of capacity. But big challenges are also apparent in another story, which says mid-sized player Baoding Tianwei is on the cusp of defaulting on a bond interest payment as it faces a cash crunch due to falling prices. Read Full Post…
An exciting trend is building momentum on China’s private equity scene, with a new generation of more entrepreneurial firms taking shape to compete on the global stage with traditional giants like Carlyle (Nasdaq: CG), KKR and TPG. One of the most active of those firms is the privately owned Fosun, which has become a regular headline maker due to its recent string of global acquisitions. Now the company is in the news once more, with word that it may soon become one of only a handful of companies in China to get a license to operate a private bank. In other private equity news, the highly anticipated launch of a major new player with strong ties to Shanghai’s financial community has finally come with the formal debut of China Minsheng Investment Corp (CMIC). Read Full Post…
