Chinese solar farm GCL New Energy , a unit of solar panel materials manufacturer GCL - Poly Energy , saw its shares rocket after announcing that a unit of China Taiping Financial is to purchase a major stake in the company . Published: It is hoped this will ease China 's debt load . Under a non - legally binding “ cooperation " agreement ” , Taiping Financial Holdings will lead an HKD8bn ( $ 1bn ) fund to make the purchase . Many pension funds and private equity companies are investing in solar and wind farms because of their long - term stable cash flows , according to UBS 's director of Asian affairs , Simon Powell .
Chinese solar farm GCL New Energy , a unit of solar panel materials manufacturer GCL - Poly Energy , saw its shares rocket after announcing that a unit of China Taiping Financial is to purchase a major stake in the company . It is hoped this will ease China 's debt load . Under a non - legally binding “ cooperation " agreement ” , Taiping Financial Holdings will lead an HKD8bn ( $ 1bn ) fund to make the purchase . Many pension funds and private equity companies are investing in solar and wind farms because of their long - term stable cash flows , according to UBS 's director of Asian affairs , Simon Powell .