Chinese solar power firm defaults on debts

Associated Press: Suntech, one of the world's biggest solar panel manufacturers, has defaulted on a $541m (£358m) bond payment in the latest sign of the financial squeeze on the struggling global solar industry. Suntech Power Holdings' announcement was a severe setback for a company lauded by China's Communist government as a leader of efforts to make the country a centre of the renewable energy industry. Its founder, Shi Zhengrong, became one of the industry's most prominent entrepreneurs and a billionaire, only...

URL: http://www.guardian.co.uk/world/2013/mar/19/suntech-china-solar-power-default
Enclosure: http://static.guim.co.uk/sys-images/Business/Pix/pictures/2013/3/19/1363681267434/FILES-This-file-picture-t-010.jpg