Tag Archives: china construction bank

Hoku Scientific (HOKU) Gets A Chinese Bailout, Shares Soar

Hoku Scientific (HOKU) has been thrown a big Chinese life preserver and shares are soaring in after hours trading.  China’s Tianwei New Energy Holdings announced a definitive agreement after the bell today to convert $50 million in prepayments to Hoku into common stock and related warrants (giving the company 60% ownership), another $50 million in debt financing and a commitment to help Hoku obtain additional financing if needed.    Financing will be provided by Tianwei and … Read the rest

ReneSola (SOL) Gets $117 Million Loan From China Construction Bank

ReneSola (SOL) announced it’s signed a 5 year loan agreement with China Construction Bank to fund the construction of ReneSola’s polysilicon production facility in Meishan, Sichuan.

“We are pleased to announce that we’ve secured additional financing for our Sichuan polysilicon manufacturing facility,” said Charles Bai, ReneSola’s chief financial officer. “The agreement, combined with previously acquired financing, provides ReneSola with approximately 90% of the capital necessary to fund the project to completion. Our ability to secure … Read the rest