Cash-strapped developer SFCE dependent on buyer goodwill for $66m project sell-off

SFCE is scrambling to keep creditors at bay and has been unable to guarantee more than half the windfall it expects from selling off 140 MW of Chinese project capacity will actually be paid.The torrid financial position facing Chinese solar project developers has again been emphasized in an update released today by Hong Kong-listed SFCE. Shareholders in the former Shunfeng International business will gather on July 2 to decide whether to approve a desperately needed sale of 140 MW of project capacity in Xinjiang as creditors gather. The proposed sale of the six solar project businesses in question ...

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