GCL and NRG form new solar company

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Under the new joint venture (JV) announced today, NRG says it will to develop photovoltaic projects using GCL-Poly’s photovoltaic system equipment and its racking technologies. The goal is to "substantially enhance the financial returns of the projects".

Since the start of the fourth quarter of 2011, GCL has supplied NRG with 70 megawatts (MW) worth of photovoltaic equipment. In a statement released, it was added, "GCL-Poly may have an opportunity to provide NRG Solar 200 MW of PV equipment for each year until end of 2014."

The parties declined to provide any further information rearding the new company or its planned projects.