Chinese solar inverter maker Sungrow’s $2.6b new energy unit targets local IPO

Chinese solar inverter maker Sungrow’s $2.6b new energy unit targets local IPO

A new energy subsidiary of Chinese publicly listed solar inverters developer Sungrow Power Supply has roped in its first external investors at a pre-money valuation of 19 billion yuan (over $2.6 billion), as the unit moves towards an onshore initial public offering (IPO).

Edited by: Joymitra Rai