GCL-Poly has announced 2009 financial results and detailed a major effort to diversify operations and move downstream into wafer and solar project development. Revenue from the sale of polysilicon and wafers amounted to RMB 2,537.1 million (US$371.6 million) and and RMB 262.3 million (US$38.4 million respectively.
GCL-Poly was able to produce 7,454MT of polysilicon in 2009 and sold 5,675MT as well as 46.4MW of wafers via tolling arrangements. Average selling price for polysilicon was US$65.4 per kg and US$0.83/W for wafers.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
As the company ramped polysilicon production and benefited from improved economies of scale, production costs declined significantly from US$66.0 per kg in 2008 to US$39.4 per kg in 2009.
Previously announced polysilicon capacity ramps remain on target, having reached 18,000MT production capacity by the end of 2009 and plans to reach 21,000MT by December 2010. GCL-Poly expects to produce roughly 15,000MT of polysilicon in 2010.
However, significant expansion of ingot and wafering capacity beyond previously guided plans is now underway. In November, 2009, GCL-Poly said that wafer production capacity would be expanded to 1GW by mid-2010.
The company now plans to expand wafer capacity to 2GW by end of 2010 with a production volume of 1.3GW. In-house construction of ingot and wafer manufacturing facilities has already started.
Further expansions could come from acquisitions, such as its recently announced acquisition of Konca Solar Cell, as well as partnerships, the company said.
Moving further downstream, GCL-Poly noted that its first 20MW solar power plant in in Xuzhou, Jiangsu province was fully operational and with its partner CIC expects to expand it’s project business globally in 2010.
“We are now one of the leading suppliers of solar raw materials globally and we are also one of the top green energy operators in China,” noted Mr. Zhu Gong Shan, Executive Director, Chairman and CEO of GCL-Poly
