August 8 (Renewables Now) - Chinese solar equipment manufacturer Haitai Solar has started trading on the Beijing stock exchange after completing an initial public offering (IPO), it said on Monday.
The stock of the photovoltaic (PV) modules maker, which is also providing new energy solutions and is operating in the energy storage and hydrogen markets, will trade under the stock code “835985”.
Haitai Solar intends to use the fresh capital from its IPO, the size of which was not disclosed, to finance investments and solar module projects totalling 1 GW. A portion of the proceeds will be allocated for research and development (R&D) initiatives and for the mass production of heterojunction PV modules.
Haitai Solar has a global production capacity of 8 GW. The company says it is among the top 10 PV manufacturers in China by shipments.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.