SOEs Taking Over Private Solar

The state sector keeps on winning.

Caixin: State Sector Gobbles Up Private Solar Firms Reeling From Slashed Subsidies
The most recent sign of this trend occurred earlier this month when a subsidiary of state-owned China Huaneng Group Co. Ltd. signed a “cooperation intent agreement” to buy a 51% stake in solar power producer GCL New Energy Holdings Ltd. (GNE), according to a filing posted by its parent, GCL-Poly Energy Holdings Ltd., on the Hong Kong Stock Exchange.

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