GCL New Energy signs deal to manage 353MW portfolio

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
As part of this agreement, Suzhou GCL Operation will provide operation and management services for the power plants of Suzhou GCL-Poly Group — a total PV portfolio of 353MW. Image: GCL New Energy

Suzhou GCL Operation announced Tuesday that it has entered into an operation service agreement with Suzhou GCL-Poly for a term of three years — starting from 10 July 2017.

As part of this agreement, Suzhou GCL Operation will provide operation and management services for the power plants owned by Suzhou GCL-Poly Group — a total PV portfolio of 353MW.

Per terms of the deal, Suzhou GCL Operation will provide its services for an annual fee of US$5.2 million — which will be receivable monthly in arrears for the period of three years commencing from the start date.

The operation and management services provided by Suzhou GCL Operation include capital management, technology training, management consulting and other management services including budgeting, assets management, cost management, financial management, human resources and information management.

This new deal replaces a previous three-year operation service agreement reached between Suzhou GCL-Poly and Nanjing GCL New Energy — which was signed off on back on 22 August 2014.

Read Next

January 21, 2020
International renewable energy provider GCL New Energy, a subsidiary of GCL-Poly has signed a deal to sell 7 operational solar power plants in China with an aggregate installed capacity of approximately 294MW to one of the five largest state-owned electric utility enterprises in China, China Huaneng Group.
September 11, 2019
Solar Frontier Americas acquires GCL New Energy's 100MW Colorado project and Allianz buys 8minute's 67MW California plant
May 23, 2019
Independent PV power producer, GCL New Energy (GNE), a division of GCL-Poly is selling a 70% shareholding in 19 PV power plants with an installed capacity of approximately 977MW for RMB 1.74 billion (US$251.5 million).
April 1, 2019
Leading polysilicon and multicrystalline solar wafer producer, GCL-Poly Energy Holdings has reported a loss of RMB 1,011.4 million (US$150.7 million) for its ‘Solar Material Business’ unit in 2018, citing the demand impact from the China 531 New Deal that led to overcapacity and rapidly falling selling prices.
November 1, 2018
International renewable energy provider GCL New Energy, a subsidiary clean energy conglomerate GCL Group has recently received the first tranche of tariff back payments in China totalling RMB 990 million (US$142.5 million).
October 9, 2018
We have tracked the annual R&D spending of 12 key publicly listed PV module manufacturers over the last 10 years. We present our new methodology with a broader scope which reveals record levels of investment in solar innovation.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK