GCL-Poly, Singyes to build 500MW

GCL-Poly, solar equipment supplier GCL New Energy and Singyes Solar Technologies have signed a strategic cooperation agreement to develop 500MW of distributed-generation PV capacity in 2015.

Over the next three years, the three companies will also jointly build and run ground-mount solar installations, as well as micro-grid projects, according to a statement on the Hong Kong stock exchange.

The agreement is part of efforts to collaborate on a range of upstream and downstream projects, they said.

In July, Singyes announced plans to sell 930 million yuan ($150.6m) of dollar-denominated convertible bonds, due in 2019. The Hong Kong-based company, which also manufactures non-structural curtain walls, is increasingly moving into PV production.

Meanwhile, GCL-Poly — the biggest polysilicon and wafer supplier in the global solar industry, and a major shareholder of GCL New Energy — unveiled a joint venture with German chemicals producer Evonik Industries in July.

The agreement, under which the two sides will open fumed silica and ultra-pure silicon tetrachloride factories in eastern China’s Jiangsu province, underscores the Hong Kong-listed company’s ongoing efforts to diversify beyond the PV industry.