GCL and Isofoton unveil 1 GW solar plans

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To carry out their plans, the two companies have said they will form a joint venture company to manufacture solar trackers for the plants, which are expected to comprise both photovoltaic and high concentrating photovoltaic technology.

While China-based GCL has said it will undertake project financing and EPC services, Isofoton will reportedly supply the modules, in addition to buying "all the wafers and a portion of the cells" needed for the plants.

"In addition, the [GCL] Group will consider to build a plant with Isofoton to manufacture PV/HCPV tracker system," said GCL in a statement released. The Spanish company is also expected to provide the tracker system technology.

Commenting, Angel Luis Serrano, president and CEO of Isofoton said, "This partnership confirms Isofoton’s strategy of investing in the PV emerging markets, such as Latin America, the U.S. and China, which will lead the PV market development of the next decade."

No further details were released.