Shunda Image


East Asia



Deal type

Growth capital

Investment date


Exit date


Status date


Fuelling growth in solar power

Shunda Holdings Co., Ltd. (Shunda) is China’s largest solar cell manufacturer. It produces mono-crystalline silicon (mono-si) ingots and wafers that are used in solar cells and modules.

In 2006, Actis led an investment in Shunda to support construction of a factory to produce poly-crystalline silicon (poly-si), an essential raw material for the solar power industry that was in acute short supply globally. In addition to the expansion capital, Actis helped Shunda engage a sector consultant, recruited several senior managers to significantly strengthen the management team and improved the vertical integration of the solar value chain, thus introducing new efficiencies to a key industry and aiding productivity.

The investment highlights Actis’ long-range strategic vision for the Chinese market. It helped bring the first Chinese solar company to market, and it is now building on its knowledge and expertise with more recent deals.

Actis investment in Shunda followed successful investments in a string of high-profile Chinese companies, including CNOOC, Mengniu and Powercom.