GCL New Energy enters purchase deal with GCL Solar Energy


The Chinese solar giant today released a filing for the purchase of 37.9 MW of modules between two members of the group. Within the agreement GCL New Energy will be making the purchase from GCL Solar Energy in a connected transaction.

GCL Solar Energy, a subsidiary of GCL Poly, will supply the 37.9 MW of panels to GCL New Energy at a cost of USD 9.5 million, which works out at an average cost of USD 0.25 per watt. As the two companies are already linked, the deal constitutes a connected transaction for GCL Group.

There are four different types of panels included in the deal, 275 watt panels, 280 watt panels, 285 watt, and 290 watt panels. They shall all be used by GCL New Energy for a utility-scale PV plant in Wilson County, North Carolina.

It has been a busy few days for GCL. Just yesterday a member of the GCL Group, GCL System Integration Technology (GCL-SI), became the latest Chinese solar module producer to opt-out of the EU’s Minimum Import Price (MIP) undertaking. The company cited a decrease in average selling prices of solar modules across European markets, and will now be exposed to the EU’s anti-dumping and anti-subsidiary duties.

Additionally, last week, a bankruptcy court approved the sale of SunEdison assets, including its fluidized bed reactor (FBR) polysilicon operations to GCL-Poly. The company will pay USD 150 million for the operations, and will most likely be trying to commercialize the technology, which will be no easy task.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.