Shunfeng Upholds Global Free Trade Principle on Suniva's Section 201 Petition
HONG KONG, May 16, 2017 /PRNewswire/ -- Shunfeng International Clean Energy Ltd. ("Shunfeng" or the "Company"; stock code: 01165.HK), a leading integrated clean energy solutions provider, today confirms the submission of a letter to US International Trade Commission reaffirming that the Company upholds global free trade principle over the petition filed by the Chief Restructuring Officer of Suniva, Inc. on the date of April 26th, 2017 requesting for global safeguard relief pursuant to Sections 201-202 of the Trade Act of 1974 on non-US made crystalline silicon photovoltaic cells and modules.
As the majority shareholder (63.13%) of Suniva, Inc., Shunfeng believes it is not in the best interests of the global solar industry for the Chief Restructuring Officer of Suniva, Inc. to file the Section 201 petition for global safeguard relief, nor does it represent the correct path to a viable solution for all stakeholders to the earlier petition for relief under Chapter 11. The global trade cooperation is vital to the sound and prosperous growth of the solar energy industry and the US solar market would not thrive if the fundamental principles of free market economy were not abided by.
About SFCE
Shunfeng International Clean Energy Limited (SFCE) is committed to becoming the world's largest low-carbon, integrated, clean energy generation provider. As a result of strategic acquisitions and integration, SFCE owns a number of well-known products and technology brands across the industry. SFCE fosters continuous improvement in energy generation including solar, wind, ocean power, and ground source heat pumps, combined with energy management and storage capabilities. SFCE aims to provide clean energy solutions to large scale public facilities and commercial users including shopping malls, data centers, hotels, public buildings, manufacturing facilities, office buildings, schools, hospitals, sports complexes and households. SFCE's energy solutions can achieve energy cost reductions of 50% to 70%, creating energy generation choices for its customers that reduce both carbon emissions and energy costs.
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