GCL-Poly Energy, Foxconn Technology partner for solar plant in Shanxi province

Bloomberg has reported that GCL-Poly Energy Holdings and Foxconn Technology Group plan to cohesively work on building and operating a solar plant in China’s Shanxi province. The 310MW plant will use GCL’s solar cells, which will be assembled by Foxconn, with both companies agreeing to share the revenue produced from selling the electricity to the government utility.

Shu Hua, executive president of Hong Kong-listed GCL declined to inform Bloomberg what the investment amount or revenue split for the facility, would be. However, Shu did note that total budget for the plant, in Shanxi’s Datong region, was initially based on a cost of US$1.58/W, which has since dropped to about US$1.43/W. The solar plant is anticipated to be in full operational by first half of next year.