GCL partners with Adani for solar PV operations in India

Share

China’s GCL Group has announced a strategic partnership with Indian Industrial firm Adani Enterprises that will focus on delivering complete solar PV operations in India, in addition to further collaborative efforts in wind and LNG energy.

GCL confirmed that it will carry out “large-scale cooperation in India’s green energy sector” with the assistance of the Adani Group, notably including both upstream and downstream solar PV operations in the Indian state of Gujarat.

“Our agreement with Adani Group has been going on very smoothly,” said GCL Group chairman Zhu Gongshan. “We will keep the market informed what we achieve from this strategic collaboration.”

Gongshan added that he is optimistic about India’s energy market outlook, particularly in the fields of renewable energy where the cabinet was recently rumored to have agreed to increase the nation’s clean energy target to 40% by 2030.

The partnership will seek to utilize GCL Integrated Technology Co’s (a subsidiary of GCL Group) experience in constructing solar fabs, with the aim being the creation of a manufacturing facility in Gujarat, specifically in Mundra, where solar module, cell, polysilicon and wafers will be produced.

According to GCL, this agreement was first reached in June following the visit to China of Indian Prime Minister Narendra Modi.

Following the collapse earlier this year of a reported $4 billion deal between Adani and SunEdison, the Indian firm has been in talks with a handful of potential manufacturing partners, most recently Japan’s Softbank and China’s Foxconn. This proposed joint venture (JV) with GCL Group is the latest attempt by Adani to open up India’s solar manufacturing market.

The group has been proactively boosting its solar and wind energy operations in 2015, most recently with the proposal of a 1 GW solar project in Jharkand. Reports suggest that the conglomerate could invest up to $1.05 billion in the project.

Popular content

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.

Share

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Your email address will not be published.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.