(10 October 2011, Hong Kong) Following the successful launch of “GCL Quasi-Mono Wafer” at PV Taiwan 2011 a few days ago, GCL-Poly Energy Holdings Limited (“GCL-Poly”, “the Group”, stock code: 3800.HK), the largest global polysilicon and wafer manufacturer, announced today that it has signed a 5-year letter of intent to supply 1GW of “GCL Quasi-Mono Wafer” to Tainergy Tech. It is a strategic cooperation of priority purchase of raw materials and cooperative subcontracting on solar related areas between the two parties.
“GCL Quasi-Mono Wafer” is one of the newly developed products and the result of the focus on technological innovation by GCL-Poly. It possesses high conversion efficiency (which is close to traditional monocrystalline wafer) and extremely cost-competitive advantages. Its degradation rate is much better than that of traditional monocrystalline wafer. The high efficiency cell and modules using “GCL Quasi-Mono Wafer” can lower the solar energy generation cost substantially by more than 10%. Meanwhile, with the application of the self-developed “GCL-ASCS-880” advanced ingot furnace system which enables the mass production of “GCL Quasi-Mono Wafer”, the production capacity will exceed 100 million pieces per month by the end of this year.
Mr. Kevin Hsieh, General Manager of Tainergy Tech, believed that the competitive advantages of GCL-Poly in product quality and cost control will bring forth important impact on Tainergy Tech resulting in enhancing its product competitiveness and further development in the PRC market. Mr. Sean Tzou, Chief Operating Officer of GCL-Poly, stated that GCL-Poly is committed to cost reduction and quality improvement through technological development and is able to pass on its benefits to customers and realise long-run win-win position. GCL-Poly is willing to stand by other upstream and downstream customers to promote the healthy and sustainable development of solar industry through such long-term stable cooperation.
About GCL-Poly Energy Holdings Limited (stock code: 3800.HK)
GCL-Poly Energy Holdings Limited is China’s largest polysilicon producer, one of the world’s leading wafer suppliers, and a top green energy enterprise in China. Annual polysilicon production capacity is expected to reach 46,000 MT by the end of 2011, and the quality of its polysilicon products has reached electronic grade level. The Group’s wafer production capacity achieved 6.5 GW at the end of July of 2011. In addition to the 11 MW in operation in the U.S., the Group owns a 20 MW solar farm in Xuzhou, Jiangsu province, which is currently the largest solar farm in China.
For more information about GCL-Poly, please visit the company’s website at www.gcl-poly.com.hk.
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