22 October 2016
Prices of solar panels have plunged. Photo: Yingli
Prices of solar panels have plunged. Photo: Yingli

Another solar king dethroned by debt, Yingli fights to survive

Yingli Green Energy Holding Co. was, until last year, the world’s biggest solar panel firm by shipments.

But it has lost two-thirds of its market value this year, Bloomberg reported.

In May, Yingli acknowledged “substantial doubt” about whether it can stay afloat amid a pile of debt.

The firm, based in Baoding, Hebei province, will report second-quarter results Tuesday, and analysts are expecting a 16th consecutive loss.

It’s a familiar story in the solar business.

Yingli followed Suntech Power Holdings Co., another Chinese panel maker that held, and lost the top spot in the industry.

Before that, Germany’s Q-Cells SE held the No. 1 position.

Both went bankrupt, felled by debt and high costs in an industry where prices have plunged.

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