Last OctoberGCL-Poly, the world’s largest maker of polysilicon and wafers for PV, said itwas contemplating spending HK$1.8bn ($230m) on a 29% stake in Same Time, whichwould then overhaul its core printed-circuit-board business and become a PVdeveloper.

At the time,loss-making GCL-Poly explained that the arrangement would give it a separate“platform” for investing in solar projects.

In additionto the 65,000 metric tonnes of polysilicon and 8GW of wafer capacity itoperates in China, GCL-Poly has made plain its ambitions to become a developerof large PV projects, both at home and abroad.

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