Shunfeng, now a leading PV module maker since its recent acquisition of Wuxi Suntech, will need vast amounts of capital to come anywhere near its goal of installing 10GW of PV capacity over the next two and a half years, most of it in China.

Already understood to be seeking as much as 100bn yuan ($16bn) in credit from China Development Bank, Shunfeng will also sell 600 million new shares – equivalent to nearly 30% of its outstanding share count – for at least HK$10 apiece.

The