Founder Group, GCL sign a US$220 million MoU

Facebook
Twitter
LinkedIn
Reddit
Email
The companies will explore, identify, assess and undertake renewable energy projects across Malaysia and the Association of Southeast Asian Nations (ASEAN). Image: GCL Technology.
The companies will explore, identify, assess and undertake renewable energy projects across Malaysia and ASEAN. Image: GCL Technology.

Malaysian PV solutions provider Founder Group has signed a US$220 million memorandum of understanding (MoU) with Chinese polysilicon producer GCL Technology. 

The companies will explore, identify, assess and undertake renewable energy projects across Malaysia and the Association of Southeast Asian Nations (ASEAN). Under the terms of the agreement, the partnership involves sharing information, implementing joint actions and regularly reviewing progress. Both companies will also contribute technical expertise to support identified initiatives. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Additionally, they will take the necessary steps to professionally identify and secure projects. Upon securing, a separate agreement will define their respective roles, support and information-sharing responsibilities. Following the MoU, both parties will use internal resources to identify opportunities, review tenders, draft business plans and develop proposals. 

Lee Seng Chi, CEO of Founder Group, said that the collaboration with GCL Systems Integration marks a significant step toward advancing renewable energy efforts in Malaysia and the region. He noted that GCL’s expertise in solar PV and storage would strengthen their capabilities. 

Recently, GCL Technology shifted its manufacturing focus (Premium access) in response to ongoing challenges in the polysilicon market and completed its exit from all remaining investments in China’s Xinjiang Uyghur Autonomous Region (XUAR).  

The company announced it had divested its indirect stake in silicon rod manufacturer Xinjiang Goens, previously held through its subsidiary Jiangsu Zhongneng. With this step, GCL fully withdrew from both direct and indirect investments in Siemens-based polysilicon production, transitioning entirely to granular polysilicon methods.

10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

October 3, 2025
Chinese government policies and supply-side production cuts will drive a significant increase in solar and storage component costs.
September 30, 2025
Chinese solar firm SoleFiori (Hongjun New Energy) has signed an agreement with the Saudi Arabian government to build a 6GW heterojunction technology (HJT) module production facility in the country.
September 26, 2025
Chinese president Xi Jinping has unveiled a new climate target for China at the United Nations Climate Change Summit, which aims to cut by 7-10% China's peak greenhouse gas emissions by 2035.
Sponsored
September 26, 2025
Over the past three years, Tongwei has made a remarkable leap in the solar sector, shipping over 100GW of modules at record-breaking speed.
September 23, 2025
JinkoSolar and LONGi Green Energy have agreed to terminate ongoing patent lawsuits, and enter into a 'cross-licensing agreement'/
September 22, 2025
Global investment firm Brookfield has entered into a joint investment framework agreement with Malaysian developer Solarvest to build a 1.5GW utility-scale solar and BESS portfolio in Malaysia.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland