GCL-Poly Energy Hold : Formation of a joint venture with NRG Solar
02/06/2012 | 03:24am
Immediate Release 6 February 2012
Formation of a joint venture with NRG Solar
(Released on 6 February 2012, Hong Kong). GCL-Poly Energy
Holdings Limited
("GCL-Poly", "the Group", stock code: 3800.HK), and NRG Solar
LLC ("NRG Solar"), a leading photovoltaic ("PV") utility
project developer in the United States, through their
respective wholly-owned subsidiary, formed a joint venture
named Sunora Energy Solutions 1 LLC ("Sunora"). Each of the
shareholders owns 50% interest in Sunora accordingly.
Sunora will seek to build selected projects developed by NRG
Solar using GCL-Poly's performance-optimized PV system
equipment and NRG's proprietary advanced racking technologies
to substantially enhance the financial returns of the
projects.
In addition, GCL-Poly has provided a total of 70 megawatts
("MW") of PV equipment to NRG Solar since the beginning in
the fourth quarter of 2011 and early 2012. GCL-Poly may have
an opportunity to provide NRG Solar 200MW of PV equipment for
each year until end of 2014.
Mr. Gongshan Zhu, Chairman of the GCL-Poly, commented on the
joint venture that "NRG Solar is one of the largest PV
project developers in the United States. We are pleased to
collaborate with NRG Solar where we can maximize the values
of performance-optimized system equipment. This transaction
is our first step toward a strong and strategic partnership
with NRG Solar. We look forward to bringing the value of
GCL-Poly to a fast-growing US solar market through this
partnership."
About GCL-Poly Energy Holdings Limited (stock code: 3800.HK)
GCL-Poly Energy Holdings Limited is the world's leading
polysilicon and wafer supplier as well as a top green energy
enterprise in China. The product quality of the Group's
polysilicon has reached electronic grade level since 2010,
and the Group will ramp up the annual production capacity to
65,000 MT by mid-2012 or before. The Group's wafer production
capacity achieved 6.5 GW at the end of July 2011. Moreover,
for the solar system integration business, the Group is
devoting itself to providing solar farm investors with a
one-stop solar system solution: from project development,
engineering, procurement, construction, financing to
operation and management.
For more information about GCL-Poly, please visit the
company's website at
www.gcl-poly.com.hk.
Press Enquiry:
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