Chinese PV Industry Brief: Three Gorges buys 2.2 GW of PV panels for $0.18-019/W

China Three Gorges Group has announced its latest PV module procurement results, while GCL-Si has revealed plans to raise CNY 5.8 billion ($812.9 million) via a private placement to finance its expansion.

Image: Astronergy

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China Three Gorges Group has announced the results of its second-quarter solar module procurement exercise. Tongwei, Das Solar, and Chint’s unit Astronergy won, with the lowest bid reaching CNY 1.301/W. All bids were for modules with outputs above 545 W and their combined capacity reached 2.25 GW. Tongwei and Chint offered CNY 1.301/W and CNY 1.302/W, respectively, while Das Solar submitted a bid of CNY 1.345/W.

GCL System Integration (GCL SI) says that it intends to raise up to CNY 5.8 billion via a private placement. The company will use CNY 3.4 billion for its 20 GW solar cell (TOPCon) capacity program in Wuhu, Anhui province, and CNY 800 million for the expansion of its 10 GWh smart energy storage system capacity in Xuzhou, Jiangsu province. It will also use CNY 1.6 billion for working capital.

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