New hold-up in GCL project business' $155m asset sale

Shareholders planning to vote on whether to sell off 294 MW of Chinese solar capacity to Beijing-owned utility China Huaneng will have to wait a little longer to find out how.Debt-laden Chinese solar project developer GCL New Energy has been forced to delay the release of details relating to a shareholder vote on the sale of a 294 MW portfolio in its homeland. The Hong Kong-listed developer hopes to sell seven of its Chinese project company subsidiaries to two funds owned by the Hong Kong division of Chinese state-owned electric utility China Huaneng. The proposed sale would generate a net RMB1.08 ...

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