GCL-Poly abandons wafer business sell-off

Facebook
Twitter
LinkedIn
Reddit
Email

Leading Chinese polysilicon and wafer manufacturer GCL-Poly is to abandon plans for the US$1.3 billion sale of its wafer business.

The company said in a statement to the Hong Kong Stock Exchange today that it had decided to maintain its position as a “leading polysilicon and wafer manufacturer”.

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

GCL-Poly announced the sale in early November as a measure to help ease its debt situation, and an agreement was signed later that month with various investors, including Jiangsu Golden Concord Energy, GCL’s parent company. The sale had been expected to ease the company's debt to equity ratio from 146.5% to 38.8%.

But in its statement, GCL said the board had decided termination of the sale would be in the best interests of the company’s shareholders, without giving further detail.

In its latest quarterly figures, GCL reported that sales from both its polysilicon and wafer businesses were booming. Wafer sales for 2014 were predicted at around 13GW.

Read Next

October 13, 2025
France’s Engie and the UAE’s Masdar have been chosen to jointly develop a 1.5GW PV power plant near Abu Dhabi.
Premium
October 13, 2025
Brett Beattie of Castillo Engineering looks at some of the key land grading work that can make multimillion-dollar differences to projects.
October 13, 2025
Korean chemical production firm OCI Holdings has acquired a 65% stake in a Vietnamese solar wafer production plant, intending to export solar wafers to the US.
October 13, 2025
The world is on pace to exceed 3TW of cumulative solar installations by the end of the year, according to a report from DNV.
October 13, 2025
The Trump administration has cancelled the 6.2GW Esmeralda 7 solar project in Nevada – once touted as one of the largest in the world.
October 13, 2025
Two Chinese state-owned energy enterprises have signed cooperation agreements on PV and wind power projects with Saudi companies, with the total contract value exceeding RMB30 billion (US$4.2 billion). 

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