A wholly owned unit of GCL New Energy — described as an investment holding vehicle — has reached an agreement with co-developer Huanghe Photovoltaic Technology to invest in the unidentified company, which is developing a 150MW PV project in Xi’an, the capital of China’s Shaanxi province.
Upon completion of the deal, Xi'an-based Huanghe Photovoltaic — which also sells PV equipment — will hold the remaining 9% stake in the unidentified company, GCL New Energy said in a statement to the Hong Kong stock exchange.
GCL
