GCL System Integration guides revenues to double in 2023 as n-type ramp up continues

Facebook
Twitter
LinkedIn
Reddit
Email
Aerial view of GCL SI’s 20GW TOPCon cell plant in Wuhu. Image: GCL SI, via LinkedIn.

Chinese module manufacturer GCL System Integration (GCL SI) has released preliminary results for its fiscal year ended in 2023 with revenue increasing between 85.6%-109% year-on-year as it continues ramping up its n-type module and solar cell capacity.

During the reporting period, the company continued to expand its production of n-type solar cells and modules, with the first phase of its module assembly plant in Hefei reaching full capacity and with 15GW of annual capacity. Once all phases are completed, the Hefei plant will have a 60GW nameplate of annual capacity, while the Funing module assembly plant reached its targeted annual capacity of 12GW high-efficiency modules.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

Not ready to commit yet?
  • 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

GCL SI is also expanding its cell capacity with the first phase of the 20GW Wuhu cell plant becoming operational in October 2023 and with 10GW of n-type cell annual capacity, for which the company expects to raise up to RMB4.8 billion (US$672 million) to fund the plant.

Furthermore, during the 2023 financial year, the Chinese module manufacturer managed to reduce both cell and module production costs, while increasing its efficiency.

Forecasts for the full 2023 financial year are in line with preliminary results the company released last July for the first half-year results, with net profits jumping by up to 220%. At the time the company expected to reach a 30GW nameplate of annual capacity for its modules between all its plants.

Net profit for 2023 is projected to be between US$20.85-30.58 million, a 153%-271% increase from the previous financial year, while revenue is expected to be between US$2.15-2.36 billion in 2023.

Moreover, the company started 2024 by securing several module procurements by winning a bid from state-owned China Resources New Energy Group to supply 1.56GW of n-type modules to a facility in the western prefecture of Hotan, China. GCL SI secured another gigawatt-scale supply (1.1GW), this time in India with state-owned utility NTPC Renewable Energy earlier in the year.

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

August 28, 2025
Indian solar manufacturing firm INA Solar has broken ground on its fourth 4.5GW cell production plant in Narmadapuram, Madhya Pradesh.
Premium
August 28, 2025
US solar companies could potentially pay “tens of billions” of dollars in retroactive duties on products imported from Southeast Asia between June 2022 and June 2024, following a decision from the US Court of International Trade (CIT).
August 28, 2025
Boviet Solar has completed exterior construction work on its 3GW PV cell manufacturing facility in Greenville, Pitt County, North Carolina. 
August 28, 2025
JinkoSolar has sold 41.8GW of PV modules in the first half of the year, despite growing financial losses for its manufacturing subsidiary.
August 28, 2025
Another high-level inter-departmental symposium on the PV industry was held in Beijing last week, which focused on four key areas including low-prices.
August 26, 2025
Daqo New Energy has posted gross losses of US$81.4 million in Q2 2025, up from losses of US$81.5 million in Q1.

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