• 4 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 7 minutes Countries with the most oil and where they're selling it
  • 10 minutes Stack gas analyzers
  • 13 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 15 hours US Military Spends at least $81 Billion Protecting OPEC Persian Gulf Oil Shipping Lanes (16% DoD Budget)
  • 1 day China To Promote Using Wind Energy To Power Heating
  • 5 hours How many drilling sites are left in the Permian?
  • 15 hours "Undeniable" Shale Slowdown?
  • 1 day Climate Change Protests
  • 24 hours Gas Flaring
  • 18 hours Overheating the Earth: High Temperatures Shortened Alaska’s Winter Weather
  • 16 hours Mueller Report Brings Into Focus Trump's Attempts to Interfere in the Special Counsel Investigation
  • 6 hours U.S. Refiners Planning Major Plant Overhauls In Second Quarter
  • 2 days Oil at $40
  • 7 hours Trudeau Faces a New Foe as Conservatives Retake Power in Alberta
  • 14 hours Everything Is Possible: Germany’s Coal Plants May Be Converted to Giant Batteries
  • 2 days Negative Gas Prices in the Permian
  • 2 days Japan’s Deflation Mindset Could Be Contagious

Breaking News:

Guaido Takes Strides To Topple Maduro

Libya’s Fragile Oil Renaissance Is Under Threat

Libya’s Fragile Oil Renaissance Is Under Threat

Libya’s oil recovery under General…

The Case For $100 Oil

The Case For $100 Oil

According to Bank of America…

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