GCL-Poly plans to sell wafer unit, expects $77.6 million loss for first 10 months of 2018
After the failed attempt to sell a majoritry stake in its main polysilicon unit, Jiangsu Zhongneng, the Chinese solar manufacturer has now agreed to sell its wafer unit Suzhou Kezhun to Huajun Holding Group for US$123.6 million. The operation is part of the company’s plan to focus on wafer manufacturing based on the diamond-wire sawing technology and shift production to low-cost locations.
GCL Poly expands capacity of new polysilicon factory
Chinese polysilicon producer GCL-Poly Energy Holdings yesterday announced plans to increase the production capacity of its new factory, currently under construction in Xinjiang, China, to 60,000 metric tonnes (MT) per year. Accordingly, the company expects total investment in the project to increase to around $862 million.
GCL sells off stake in 160 MW of Chinese PV projects
Poly manufacturer and developer raises another $44m to pay down its huge debt pile after selling an 80% stake in two solar projects in its homeland.
Subsidy windfall helps GCL Poly eat into debt mountain
The Chinese manufacturer – which is gambling on a big rebound in global appetite for the raw material for PV panels materializing soon – will devote all of its $143m solar subsidy income to paying off a daunting amount of borrowing.
Global Solar Council announces new board, mission
The Global Solar Council (GSC) held its general assembly at last week’s Solar Power International (SPI) in California, where it announced new board members and said it will work towards crafting a unified message for the solar industry. All five working committees of the council are expected to contribute to this new task.
GCL-Poly issues profit warning
GCL-Poly Energy Holdings Ltd expects profits for the six months ended June 30, 2018, to drop between 60 and 70%, down from the around RMB 1.2 billion (US$173.6 million) it earned in the previous year.
Beijing about-turn influenced collapse of polysilicon deal
Shanghai Electric says the Chinese government’s abrupt decision to rein in solar was a significant factor in the collapse of its planned $3.64 billion acquisition of a controlling stake in the world’s biggest poly maker.
GCL-Poly cranks up its share repurchase program again
Polysilicon manufacturer has been busy repurchasing chunks of its stock, the question analysts and investors will be asking is, why?
Shanghai Electric reveals plan to acquire 51% stake in GCL-Poly’s polysilicon unit
Shanghai Electric values the GCL polysilicon unit, Jiangsu Zhongneng, at around 25 billion CNY ($3.9 billion). Trading of shares of both companies was suspended today, pending the official announcement of the transaction.
Tongwei, Longi sign 55,000 MT polysilicon supply agreement
China’s Tongwei and Longi Green Energy Technology have announced a new polysilicon supply deal under which Tongwei will sell 55,000 metric tons of polysilicon to Longi through the end of 2020
