Eric Luo: China will see just 20-25 GW of solar per year through 2025
The GCL System chief executive made comments that fly in the face of an expected solar gold rush in China that analysts predict will start this month. Though rising overseas demand will address overcapacity fears, according to Luo, the soundbite is sure to chill PV boardrooms across the world’s biggest solar market.
Ukraine orders lift Risen up overseas module shipment rankings
The Ningbo-based manufacturer shipped more than a quarter of the panels it exported in the first six months of the year to the eastern European nation. All the big manufacturers posted rising shipment volumes as emerging markets made up for slow growth in their homeland.
GCL-Poly making polysilicon at a loss as it piles up $3.36bn more in liabilities than assets
With the company’s up-for-sale project development business revealing extensive debt concerns yesterday morning, that revelation is only half the story.
GCL project development business has $1.6bn current liabilities deficit
The opening pages of the first-half update published on the Hong Kong exchange made all the right noises with the company set to be acquired by a Chinese state-owned entity. But the balance sheet makes for shocking reading.
GCL enters another expensive sale-and-leaseback deal
The heavily indebted poly manufacturer and project developer will receive an immediate $50 million fillip from the sale of an 80 MW solar project but will then have to pay back $76 million over ten years.
GCL Poly realizes swift $166m profit in Xuzhou to pay down debt
The polysilicon giant’s Jiangsu Zhongneng unit invested $196 million into a $487 million fund alongside public partners to promote clean energy manufacturing in the Chinese city. A stake sale in the Xinjiang GCL subsidiary, if approved by shareholders, will more than recoup the group’s outlay.
GCL-Poly moves to become pure manufacturer
The polysilicon, ingot, wafer, cell and module giant made two huge announcements this week, with plans to almost double wafer manufacturing capacity just as it moves to sell off its PV project development business to state-owned energy giant China Huaneng Group.
One Belt, One Road, lots more GCL sales
The chairman of GCL System says Beijing’s pan Asian-African-European infrastructure initiative is helping the company reduce its dependence on its domestic market.
Chinese wafer makers raise prices
Growing evidence of a renewed confidence in the Chinese – and dependent global – solar market was again obvious as Zhonghuan Semiconductor and GCL put their prices up this week. The smart money is on Longi doing the same in short order.
China’s Sunpower Group closes supply deal with Xinjiang Xinte
The $16.4 million contract relates to the supply of raw material towers and cold-hydraulic heat exchangers for an upgrade project by the Chinese polysilicon manufacturer.
