• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 5 hours Science: Only correct if it fits the popular narrative
  • 39 mins Crazy Stories From Round The World
  • 2 days EU has already lost the Trump vs. EU Trade War
  • 17 hours What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 23 hours Do The World's Energy Policies Make Sense?
  • 1 day China's Renewables Boom Hits the Wall
  • 8 hours Iran Burning: Shock Gas Price Hike Triggers Violent Protests After Subsidy Cuts
  • 4 hours Impeachment Nonsense
  • 1 day Forget out-of-date 'dirty oil' smear, Alberta moving to be world's cleanest oil industry
  • 8 hours Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 2 days Water, Trump, and Israel’s National Security
  • 2 days Tesla Launches Faster Third Generation Supercharger
  • 16 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"

Breaking News:

Russia Plans To Boost Crude Oil Exports

U.S. Willing To Shoot Syrian Officials To “Protect The Oil”

U.S. Willing To Shoot Syrian Officials To “Protect The Oil”

United States military officials reaffirmed…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

Solyndra File $1.5 Billion Case Against Three Chinese Solar Companies

Solyndra, the bane of Obama’s clean energy loan scheme, received $535 million in government support before it had to file for bankruptcy back in 2011.

It has now come out that Solyndra has filed a lawsuit against three US based, Chinese solar companies, claiming that their illegal pricing strategies were the reason why Solyndra could not meet the contracts that it had announced in 2008.

The lawsuit is against Suntech, Trina Solar Ltd, and Yingli Green Energy Holding Co., and is asking for a sum of $1.5 billion in compensation.

Solyndra claim that the Chinese trio coordinated their pricing strategies to drop them 75% in four years. They used predatory pricing and price fixing to drive out the competition in the US.

Related Article: Why we Need to Implement an Energy Transition - Quickly

Last year US solar manufacturers complained about the solar panels being imported from China and asked for protection from the low prices. This eventually led to a trade dispute between the two countries, culminating in high import taxes being levied against Chinese solar panels.

In their case against the three companies Solyndra remarked that they had come to the US to destroy US solar manufacturers, and had used the stock market to raise the capital needed to achieve that goal.

Robert Petrina, Managing Director, Yingli Green Energy Americas, said that “we just received notice of this complaint, but from our initial review, these are unwarranted and misguided claims from a company that has a clear history of failed technology and achievements.”

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play