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Through their wholly-owned subsidiary, GCL-Poly Energy Holdings and NRG Solar have formed a new joint venture, Sunora Energy Solutions 1. Each of the shareholders owns 50% interest in the JV, which will build selected projects developed by NRG Solar using GCL-Poly’s PV system equipment and NRG’s racking technologies.
GCL-Poly additionally advised that since the beginning of Q4 2011 and early 2012, it had provided 70MW of PV equipment to NRG Solar. The company anticipates having an opportunity to supply NRG Solar with 200MW of equipment each year until the end of 2014.
Gongshan Zhu, chairman of GCL-Poly, commented on the joint venture, stating 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.”