China Polysilicon Makers Plan $7 Billion Fund to Ease Glut

China Polysilicon Makers Plan $7 Billion Fund to Ease Glut

(Bloomberg) — Chinese polysilicon makers are planning to set up a fund to retire production units of the key element used for solar panels, in an effort to ease the industry’s overcapacity.

China polysilicon firms plan 50 billion yuan fund to shut a third of industry capacity

Chinese producers of polysilicon, a building block for solar panels, are in talks to create a 50 billion yuan (S$8.9 billion) fund to acquire and shut down roughly a third of production capacity and restructure part of the loss-making sector, GCL Technology Holdings said.

China Polysilicon Firms Seek $7bn to Shut a Third of Solar Sector

Polysilicon companies are in talks about buying up and shutting down a third of China's solar panelmakers, but they need $7 billion