GCL-Poly continues to ramp production capacity commitments
The poly maker is making significant investment pledges into new production lines in Sichuan and Inner Mongolia.
GCL-Poly dilutes holding in developer business to raise funds
The poly maker yesterday secured approval from unpaid creditors to restructure the company’s debts and will commit the anticipated $115 million windfall from its shares placement towards its financial commitments.
GCL-Poly cross defaults over unpaid $500m senior notes
Creditors refused to postpone payment of the three-year notes for another 36-month term and now face receiving less than 5% of the amount due once a proposed debt restructure is completed, with the balance kept back until January 2024 regardless.
GCL on verge of cross default over $500m senior notes
The polysilicon manufacturer yesterday extended the deadline for postponing settlement of the investments until Friday – with the notes set to expire on Saturday.
GCL dilutes stock as senior note deadline approaches
Parent company hopes to raise $535 million from the move with $500 million worth of three-year senior notes owed by its solar project business due to mature on January 30.
GCL shareholders set for a busy festive period as votes loom on $903m worth of solar project sales
Chinese state entities are now behind five phases of two separate sales deals which, if approved, will transfer more than 1.8 GW of solar generation capacity into public ownership.
China set to acquire 820 MW of solar project capacity
The latest, seven-project, 217 MW, $150 million project sell-off announced by the development business of polysilicon producer GCL-Poly means a lot will be at stake in the vote by its shareholders at an extraordinary general meeting in the new year.
Terms worsen for GCL in latest proposed project sale to China Huaneng
Chinese solar project developer GCL has added 109 MW of generation capacity to the portfolio it plans to sell to the state-owned buyer but on worse terms than the initial phase of project sales.
GCL generates another $85 million with new shares and 100 MW project sale
The polysilicon manufacturer, which is bent on slimming down its capital-intensive project development business, has generated another windfall to go towards servicing its onerous debt pile.
Obligatory temperature testing: How Covid-19 is changing the boardroom
Chinese solar project developer GCL New Energy revealed in its latest update in a drawn-out project sale saga how coronavirus measures will affect corporate gatherings.
