Point Roberts, WA - January 06, 2012 - (Investorideas.com renewable energy/ green newswire) Investorideas.com, a leader in renewable energy stock research for independent investors, issues a solar investor update on recent Chinese funding and investment in the solar sector.
OTCBB: SOPW) announced that it has secured construction finance facilities totaling $44 million from China Development Bank ("CDB") to fund construction of solar energy facility ("SEF") projects it is working on jointly with KDC Solar in New Jersey. Separately, LDK Solar ("LDK") secured financing facilities of $20 million for two projects it is developing through Engineering, Construction and Procurement contracts with SPI in California. The LDK finance facilities will be used to fund construction costs of the California SEFs.
The stock closed up January 5 th at $ 0.41, up 0.0090 (2.24%) on the news, on over 129,000 shares.
January 4 th Ascent Solar Technologies, Inc. (NasdaqGM: ASTI ) reported that TFG Radiant Investment Group, Ltd of China will increase its ownership interest in solar panel manufacturer. TFG Radiant acquired approximately 20 percent of the outstanding shares of Ascent in August 2011. The increase will put TFG Radiant's ownership at approximately 41 percent.
The stock closed up at $0.56, up 0.14 (33.33%) on over a million shares of trading on January 4 th following the news.
TFG Radiant will purchase the stake in the Company presently owned by Norsk Hydro Produksjon AS for $4 million, or approximately $0.50 per share. The transaction is expected to close within the next 90 days.
Victor Lee, managing director of TFG Radiant and an Ascent board member, said: "We continue to be very excited about the market potential for Ascent's transformational solar power technology. No other manufacturer can match the combination of power density and flexibility, which we believe will enable TFG Radiant to lead in rooftop and portable power applications in East Asia."
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