GCL-Poly signs 9.3 GW supply deals

Despite Chaori Solar’s default on Friday sparking fears of a potential rout of Chinese solar stocks, polysilicon manufacturer GCL-Poly today announced long-term deals to supply 9.3 GW of wafers and poly to four module manufacturers.

GCL-Poly will receive unspecified advance deposit payments as part of deals to supply materials to Chinese panel makers Jinko Solar, GD Solar, Tongwei Solar and Hareon Solar.

The huge volume of orders will start to be shipped this year with shipments continuing until 2016 as China’s domestic solar market shows little sign of slowing in the wake of figures from the European Photovoltaic Industry Association (EPIA) confirming the nation retained its place as the world’s biggest market and the engine room of the Asian solar boom.