GCL-SI bags A bankability score at PV ModuleTech 2019

Facebook
Twitter
LinkedIn
Reddit
Email
Image credit: GCL-SI

China-headquartered GCL-SI was among the module makers recognised at this year’s PV ModuleTech, arranged in Malaysia by PV Tech’s publisher Solar Media.

The ‘Solar Module Super League’ (SMSL) member was one of four firms scooping up an ‘A’ rating under a new ranking for module manufacturers, unveiled during the two-day trade show in Penang’s G-Hotel Gurney this week.

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

PV Tech’s market research team awarded the score to GCL-SI – as well as several of its peers in its module making segment – after five years’ worth of painstaking data collection and module market research.

GCL-SI’s 'A' rating was meant to reflect its performance on the manufacturing front – shipment volumes and other parameters – but also the state of its finances, to help guide solar developers, EPCs and investors assessing the firm or other potential candidates as module suppliers.

For GCL-SI, the distinction comes as it presses ahead with efforts to ramp up business overseas. In late April, the firm revealed its module shipments beyond China reached the 2.3GW threshold in 2018, a 52.9% hike on 2017 records.

The manufacturer is working to keep up the momentum this year. By the end of 2019, according to the plans laid out in April, overseas shipments should account for 80% of the total. Target regions include Western Europe, Japan and South Korea.

The firm’s CEO, Eric Luo, caught up with PV Tech at this year’s Intersolar Europe edition. Speaking at the Munich event, he predicted China would witness 25GW worth of solar installations in the second half of the year, triggering a jump in module prices.

“In the second half [of the year] the module price will go up 10-15% easily. China will install 25GW in the second half of the year,” Luo told this publication.

“EPCs need to be securing supply now and making sure delivery will be on time. I'd repeat what I said at Davos: the party is over for cheap modules. That price rise will begin in H2. Around 5GW was installed in the first quarter and I'd expect perhaps 5GW in Q2 and now 25GW in the rest of the year,” GCL-SI’s CEO added.

The firm’s latest financial reports show full-year revenues were down 22% between 2017 (RMB 14.44 billion) and 2018 (RMB 11.1 billion). Net profits, meanwhile, soared by 89.16% year-on-year, reaching RMB34.9 million (US$5.2 million).

See here for more information on the agenda, speakers and debate themes of this year's PV ModuleTech, held in Penang on 22-23 October 2019 

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

September 15, 2025
Vikram Solar has secured a contract to supply 200MW of modules to AB Energia, a domestic solar engineering, procurement, and construction (EPC) solutions provider. 
September 11, 2025
Constant Energy has secured THB300 million (US$9.4 million) in green financing from HSBC to expand large-scale solar and battery storage projects in Thailand. 
September 10, 2025
At RE+ 2025, companies launched AI-driven platforms, terrain-following trackers, low-carbon modules, and advanced energy management solutions for solar and storage.
September 10, 2025
Japanese solar cell manufacturer Toyo Solar has sold 1.6GW of solar PV cells in the first half of 2025, driving revenue of around US$139 million.
September 9, 2025
China has advanced in the integration of AI and new energy, covering areas such as power forecasting, electricity markets, and O&M.
September 8, 2025
Vaisala has launched a new hail alert system aimed at solar operators grappling with an increasingly costly problem for PV installations.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines