GCL taps Taiping Financial Holdings for US$1.0 billion in solar project fund

Facebook
Twitter
LinkedIn
Reddit
Email
Taiping Financial was said to establishing a US$1.02 billion investment fund for the purpose of investing in GNE by way of subscription of new GNE Shares and convertible bonds. Image: GCL New Energy

GCL New Energy Holdings (GNE), the downstream independent PV power producer arm of leading polysilicon and solar wafer producer GCL-Poly Energy Holdings, has secured a HK$8,000 million (US$1.02 billion) in new finance.

Taiping Financial was said to be establishing a US$1.02 billion investment fund for the purpose of investing in GNE by way of subscription of new GNE Shares and convertible bonds. 

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

The financial services firm is expected to hold less than 30% of the issued share capital of GNE after the issuing of new shares by the PV project developer. The subscription price of each new GNE share was said to set at 10% discount to the average closing price of GNE shares on the Hong Kong Stock Exchange.

PV Tech previously reported GNE had reported that in the first half of 2017, its cumulative installed PV power plant capacity surpassed 5GW for the first time. 

GNE reported cumulative installed PV power plant capacity of approximately 5,049MW in that period, an 88.4% increase year-on-year. The majority of PV project developments were in China.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
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

October 8, 2025
The NSW Independent Planning Commission has granted planning approval for Potentia Energy's 500MW Tallawang solar-plus-storage project.
October 8, 2025
US solar module prices jumped in Q3 2025 as developers scrambled to meet the 2 September 2025 safe harbour deadline for Investment Tax Credit (ITC) qualification, according to supply chain platform Anza.
October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.
October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.
October 8, 2025
Saatvik Green Energy has secured new solar PV module orders worth more than INR7 billion (US$84 million), to be delivered in this financial year.
October 8, 2025
Frontier Energy plans to expand its Waroona Renewable Energy Project into a renewable energy precinct by 2031, targeting up to 1GW solar.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK