Solyndra files lawsuit against Chinese solar companies

Solyndra LLC, the solar- panel maker that received a $535 million U.S. government loan guarantee and later filed for bankruptcy, has accused Chinese solar companies of destroying it by running an illegal cartel, according to Bloomberg.

Solyndra is seeking compensation “for the loss of the $1.5 billion value of its business and more which defendants destroyed,” lawyers for the company were quoted as saying in a complaint filed Oct. 11 in federal court in San Francisco.

According to the complaint, Suntech, Trina Solar Ltd. and Yingli Green Energy Holding Co. raised money from American investors by selling depositary shares to deflate the businesses of American competitors such as Solyndra, the article said. On Oct. 10, the U.S. Department of Commerce determined that Chinese producers and exporters have sold solar cells in the U.S. at dumping margins ranging from 18.32 percent to 249.96 percent.

An energy trade association, China’s energy administration, Chinese banks and Chinese polysilicon manufacturers are listed as co-conspirators in the lawsuit, according to the article.

Read more solar energy news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...