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MAR 27, 2013 - The Economist

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Solar power: Sunset for Suntech

Beware of zombies WILL the bankruptcy of Suntech, a big Chinese solar-panel maker, spark a round of consolidation in the global solar industry? The early signs are dim. Under a charming and tech-savvy founder, Shi Zhengrong, Suntech was a pioneer. It was the first Chinese solar firm to go public, in 2005. Buoyed by official credit and subsidies, it briefly became the world’s largest solar-panel manufacturer by volume.Now Suntech has become a dirty word among sun-worshippers. On March 15th it missed a payment on $541m-worth of convertible bonds. On March 18th local banks holding the firm’s ... Read More

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