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Post by account_disabled on Mar 15, 2024 23:10:22 GMT -5
Suntech Power Holdings’ Chinese subsidiary Wuxi Suntech Power Co. has declared bankruptcy. The Wuxi Municipal Intermediate People’s Court in Jiangsu Province, China has formally accepted the petition for the insolvency and restructuring of Wuxi Suntech Power Co. Wuxi Suntech manufactures photovoltaic (PV) cells and PV modules. The company last week defaulted on payments on $ million-worth of bonds, reports Agence France-Presse. This comes just days after parent company Suntech Power Holdings said it would close its sole US-based manufacturing plant in Goodyear, Ariz., citing import tariffs CG Leads and a global oversupply of solar modules as the reasons. The solar panel facility will shutter on April , with employees affected. As for the Chinese bankruptcy, the company says the primary goal is to restructure Wuxi Suntech’s debt obligations, while continuing production and operations through the restructuring period. The court has appointed an administration committee, consisting of local government representatives and accounting and legal professionals, to administer the restructuring of Wuxi Suntech. Suntech says it and the administration committee are committed to maintaining all of Suntech’s product warranty obligations. In , the three supermarket chains topped their energy-reduction levels by eliminating billion BTUs, up from . billion BTUs the year earlier. These energy reductions in saved more than $. million, up from $. million in , and reduced carbon emissions by million pounds, Delhaize America says. Food Lion, Harveys and Reid’s also added Energy Star-certified stores in , bringing their total number to , or percent of the entire chain of stores. Food Lion, based in Salisbury, N.C., operates more than , supermarkets. Harveys operates stores in Georgia, Florida and South Carolina. Reid’s operates stores in South Carolina. The grocery stores were recognized in last year’s annual Energy Star awards for expanding a pilot program to put glass doors on medium-temperature cases — a measure found to cut a stores overall energy bills by percent without hurting sales — by tripling capital investment in to more than $ million and enclosing cases at another stores. Sears, Lowe’s, utility Xcel Energy and LG Electronics also took home top honors in the the awards. Sears won for achievements that included increasing the amount of Energy Star-qualified decorative lighting products, power tools and washing machines it sells and reducing company-wide energy consumption by . kBtu per square foot, representing a .-percent improvement in energy.
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