China-based PV module maker and provider of PV systems UE Solar has gone bankrupt mainly due to investment to set up a large production base in central China, according to China-based CBN Daily.
UE Solar invested a great deal in establishing a production base for crystalline silicon solar cells and PV system components on a site of 17.33 hectares (42.82 acres) starting 2010, and incurring a heavy financial burden, the paper said. In addition, UE Solar has faced difficulty exporting products to the US due to US anti-dumping and anti-subsidy tariffs.
UE Solar was founded in September 2007 and has 15 production lines in a factory with total floor area of 40,000 square meters (430,560 square feet) on land of 6.6 hectares.