GCL-Poly $800m CDB loans boost
GCL-Poly, the world’s largest producer of solar-grade polysilicon and wafers, has landed a 5bn yuan ($800m) loans package from China Development Bank to expand its downstream PV projects business in China.
GCL-Poly and its subsidiaries installed 270MW of PV capacity in China in 2013, making it a middling player in a country that added nearly 10GW last year. China intends to add 14GW of PV capacity this year.
But GCL-Poly boasts an immense project pipeline in China and the US, and recently acquired Same Time Holdings for use as a “platform” for both ground-mount and rooftop PV development.
More importantly, unlike China’s other PV manufacturers branching out into project development, GCL-Poly is already a significant operator of power plants ranging from coal- and gas-fired to wind and solar.