Shenzhen Energy Plan to Buy Solar Assets Axed After U.S. Rebuff

China’s Shenzhen Energy Group Co. terminated a plan to buy U.S. solar power assets from a unit of Canadian Solar Inc. after the deal was rejected by American regulators.

Canadian Solar’s Recurrent Energy Development Holdings LLC and Shenzhen Energy failed to get approval from the U.S. Committee on Foreign Investment within an agreed time and so the transaction was canceled, Shenzhen Energy said in a stock exchange statement Aug. 8.

Shenzhen Energy had planned to buy three companies from Recurrent Energy for $232 million for stakes in 664 megawatts of solar farms in California, the ...