NEW YORK ( TheStreet ) -- The world's largest solar panel producer, Suntech Power Holdings ( STP ) may have secured a $150 million investment to fund its reorganization from a Chinese investment firm. Wuxi, China-based Suntech announced on Wednesday, Oct. 30, that it has received a letter of intent for at least a $150 million cash investment from Wuxi Guolian Development (Group). The investment will support the company's rehabilitation and restructuring of its financial and operational affairs, the statement said. The investment company, which is based in Wuxi in China's Jiangsu Province, invests in downstream solar companies, power generation projects, textile industries, waste disposal facilities and environmental protection and energy projects. It will fold other solar products companies it owns into Suntech, according to Wuxi Guolian.