Wednesday's Asia ADR Recap: ReneSola

Canadian-based solar technology company Arise Technologies announced its wholly owned subsidiary, Arise Technologies Deutschland, has inked a six-year deal with Chinese alternative energy company ReneSola(SOL Quote) to supply Arise with 203.5 megawatts of silicon wafers. Shares of ReneSola slipped 3.3% to $19.

Elsewhere in the Chinese solar complex, Trina Solar(TSL Quote), rose 3.8% to $37.95; JA Solar(JASO Quote), jumped 3.8% to $19.51; Solarfun Power(SOLF Quote), added 2.7% to $18.63; and Suntech Power(TSL Quote), climbed 1.5% to $38.33.

Agria(GRO Quote), a Beijing-based agricultural solutions provider, announced it has acquired the production and sales rights to two proprietary corn seeds from privately held NKY Company. Financial details of the deal were not disclosed. The proprietary corn seeds, JKN2000 and JKN120, were developed for human consumption in end products such as fresh corn, corn oil and corn-based drinks and foods. Shares of Agria jumped 5.5% to $6.05 on twice the average daily volume.

China's largest oil producer, PetroChina(PTR Quote), announced plans to issue up to 60 billion yuan ($8.7 billion) in domestic corporate bonds since rising oil prices have caused large losses for the company's refiners. PetroChina said it will use the money from the bond sale to satisfy the demand for mid-term and long-term capital requirements, to improve its debt structure and for investment in several projects. If the issue receives shareholder and regulatory approval, it would be the largest corporate bond sale for a Chinese-listed company in the country's history.

The company also said it has restarted its main fuel pipeline in Western China after no damage was discovered from the Tangjiashan "quake lake," which formed after the major earthquake rocked the Sichuan province last month. Shares of PetroChina dove 1.7% to $129.44.