GCL plans 4GW of China PV
GCL New Energy this week announced three separate deals to develop more than 4GW of solar throughout China by 2016.
It signed a co-operative framework agreement with GD Solar on 21 May to build 3GW of PV capacity by 2016. The two sides aim to install 800MW this year, GCL New Energy said in a statement to the Hong Kong stock exchange.
Last week, printed circuit-board maker Same Time Holdings changed its name to GCL New Energy. GCL-Poly, the world’s biggest producer of PV-grade polysilicon and wafers, acquired a majority stake in Same Time in February.
Guodian-owed GD Solar agreed to help GCL New Energy acquire up to 255MW of solar projects in China from several of its partners. It also agreed to potentially acquire 500MW of PV capacity with GCL New Energy in Gansu, Shaanxi and Liaoning provinces, as well as the Inner Mongolia and Ningxia regions.
GCL New Energy also signed a cooperative framework agreement with the CSR Zhuzhou National Engineering Research Centre of Converters to jointly build and invest in 1GW capacity through 2016.
The two sides plan to develop 200MW this year, 300MW next year and 500MW in 2016. GCL New Energy will handle EPC duties.
In addition, GCL New Energy announced a cooperation agreement with Huanghe Solar to build a 150MW PV project in Shaanxi province this year.