GCL-Poly to Build 84 MW in California
(19 October 2011, Hong Kong) GCL-Poly Energy Holdings Limited (“GCL-Poly”, “the Group”, stock code: 3800.HK) announced today that it will invest in and build 2 solar projects totaling approximately 84 megawatts, developed by solar energy developer Solar Projects Solutions, LLC (“SPS”). The construction of the projects is expected to commence in 2011, and will reach commercial operation in 2012.
The projects are located in the California Central Valley in Tulare County and have executed power purchase agreements with Pacific Gas & Electric (“PG&E”). Once built, the systems will utilize approximately 300,000 photovoltaic panels and is expected to supply 151,000 MWh to PG&E annually.
“GCL-Poly’s investment into these projects is in line with the Group’s plan to grow and develop its environmentally-friendly power business globally,” said Shu Hua, Executive President of the Group. “By building these projects, GCL-Poly takes an important step in executing its dual-end strategy along the solar value chain, from polysilicon and wafer manufacturing, to system integration and solar power plant development.”
About GCL-Poly Energy Holdings Limited (stock code: 3800.HK) GCL-Poly Energy Holdings Limited is one of the largest global polysilicon producers, 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.
About Solar Projects Solutions, LLC (SPS)
Solar Projects Solutions, LLC is a joint venture between Samsung Green Repower, LLC and Solar Managers, LLC, that develops, finances and operates utility scale photovoltaic
projects. SPS provides end-to-end solutions for utilities addressing the growing demand for large scale renewable energy projects in the West Coast.
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