Solar Power eyes US IPO to crowdfund green projects

Solar Power Inc, a Shanghai-based operator of solar projects and a solar investment intermediary, plans to raise as much as $300 million in an initial public offering on Nasdaq of the United States as it expands an Internet platform to help crowdfund clean-power projects.

The company wants to have a presence in capital markets, Chief Executive Officer Roger Ye said in an interview, without disclosing the timing of a possible IPO.

The plan suggests an opposite approach to that taken by some Chinese companies considering moving their listings back to China from the US, or seeking listings at home first to take advantage of higher valuations. An all-time high of 34 Chinese companies trading on American exchanges have received privatization offers this year.