China to Ease Way For Consolidation in Overcrowded Solar Industry

(Bloomberg) — A flooded market and fierce price war are pushing more of China’s solar manufacturers toward restructuring or bankruptcy with the survival of many smaller players under threat.

A subsidiary of Zhejiang Akcome New Energy Technology Co. Ltd. is the latest to declare bankruptcy after being ordered by a court to undertake a reorganizing process. This came after a creditor said the manufacturer “was not able to pay debts” and “clearly lacks solvency,” according to a filing by the parent company on Monday.