China Huaneng is Indecisive Regarding the Selection of GCL Assets is Hopes to Acquire

• The state-owned electricity utility firm is careful in its selection of solar initiative assets it hopes to buy.

According to reports, the solar project extension of Chinese-based polysilicon manufacturer GCL has announced that the state-backed investor China Huaneng has not yet identified the actual one of its generation assets that it is looking to acquire.

GCL was reportedly hoping to sell off a 51% stake of its New Energy project to the Beijing-owned entity. However, reports show that the proposed buyer hasn’t decided on which of GCL’s assets to acquire. GCL began to walk this part after it decided to become a pure solar manufacturer.

However, last month China Huaneng and GCL announced that they haven’t been able to settle the terms of the proposed bail-out. The report also adds that the state-owned firm said that it would rather acquire specific solar projects from GCL and their associated management businesses. 

Negotiations over the GCL projects that China Huaneng will pick are still ongoing, per the announcement last Friday. In other reports, Hong Kong-based solar energy producer, Singyes Solar has announced a shareholder meeting.

The goal is to vote on its decision to enact a name change. The meeting will hold on February 6 in Hong Kong. The firm hopes to change its name from Singyes Solar to China Shuifa Singyes Energy Holdings Ltd. Their is will help them intergrate into the Chinese market.They will be accepted and seen as a Chinese company too.