GCL-Poly Energy Holdings and Bank of America Merrill Lynch have closed the initial transaction to fund 15 solar power systems that will be developed by GCL-Poly’s US subsidiary, GCL Solar Energy. The 15 solar sites will total 5MW of solar energy and serve the Palmdale School District in southern California.
The two companies acknowledged their desire for this initial funding to be the beginning of a long-term relationship that provides funding for a portion of the 1GW of solar projects under development by GCL Solar in the US.
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“We are excited to have the opportunity to team with BofA Merrill,” said Shu Hua, executive president of the group. “With our continued commitment to bringing green power to life and this provision of new capital, we stand ready to invest in the solar business and create more job opportunities in the US.”