China-based PV project developer GCL New Energy (GCL-NE), a subsidiary of leading clean energy conglomerate GCL Group announced that it had purchased PV modules from both Wuxi Suntech and Hanwha Q CELLS in order to meet Chinese FIT construction deadlines, instead of typically using sister company GCL System Integration’s (GCL-SI) PV modules.
GCL-NE noted that a supply deal with Wuxi Suntech in April 2018 called for 40MW of modules at a price of RMB 2.43 per watt (US$0.36/W), at a total cost of RMB 97,200,000 (US$14.29 million approx.)
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A second supply deal was signed with Hanwha Q CELLS to provide 80MW of solar modules at a unit price of RMB 2.48 per watt at a total consideration of RMB 198,400,000 (US$29.18 million approx.)
Both module supply deals were said by GCL-NE to have been signed to meet construction completion dates and full-grid connection on PV power plants in China by 30 June 2018 so as to qualify for electricity tariffs set in 2017.
Recent official figures from China put first half year PV installations at over 24GW.
GCL-NE has used both companies in the past for module supply.
However, GCL-NE also signed a supply deal for Hanwha Q Cells modules at the end of July 2018 for 100MW of solar modules at a unit price of not higher than RMB 2.03 per watt (US$0.30/W) at a total consideration of not higher than RMB 203,000,000 (US$29.86 million approx..).
At the same time, GCL-NE also signed a 100MW supply purchase agreement with Wuxi Suntech at a unit price of not higher than RMB 2.0 per watt (US$0.29/W) at a total consideration of not higher than RMB 200,000,000 (US$29.42 million approx.).