GCL-Poly ran polysilicon and wafer operations at full capacity in 2014

Facebook
Twitter
LinkedIn
Reddit
Email

Leading polysilicon and solar wafer producer GCL-Poly Energy Holdings reported group sales of US$4.8 billion and returned to a profit of US$277.9 million in 2014, operating its polysilicon and solar wafer operations at full capacity. 

GCL-Poly reported full-year polysilicon production of 66,876MT, up from 50,440MT in 2013, exceeding nameplate capacity of 65,000MT. 

Polysilicon shipments to third parties totalled 15,443MT, down 5.4% and generated revenue of US$335.3 million in 2014. The company reported average selling prices of polysilicon were US$21.7/kg in 2014, compared to US$17.4/kg in 2013. 

GCL-Poly reported full-year solar wafer production of 13,098MW, slightly exceeding nameplate capacity of 13,000MW, which was expanded by 1GW through the year. 

The company reported wafer sales of 12,909MW for 2014, compared to production of 8,827MW of wafers in 2013. The company reported average selling prices of US$0.22/W in 2014, compared to US$0.21/W in 2013.

Total revenue of the Solar Material Business in 2014 amounted to approximately HK$25,455.3 million (US$3.28 billion), representing an increase of 40.5% from HK$18,120.8 million in 2013. 

The net profit margin of the Solar Material Business was 8.9%, compared with a net operating loss margin of 6.8% in 2013. 

PV Power plants 

GCL-Poly reported revenue from its Solar Farm Business of HK$688.3 million in 2014.

The company had approximately 100MW solar farms targeted to commence operation by the end of 2016. The group’s total solar farms in the US remained at 18 MW at the end of 2014, unchanged from 2013. The Joint venture of the group obtained 144MW power purchase agreements in the US in 2014 and 150MW of solar farms in South Africa, which was partnered with and commenced operation in the mid-year of 2014 with total effective ownership of 9.7%.

GCL-Poly operated 10 solar farms in China with an installed capacity 353MW, up from 289.3MW in 2013. The increase was said to be mainly due to the commencement of operations of two ground-mounted solar farms with 20MW and 30MW of capacity in Shanxi province and Ningxia Hui Autonomous Region respectively.

Revenue from GCL New Energy, formerly known as Same Time Holdings, which was acquired in May, 2014 totalled HK$1,024.0 million. Most of the solar farms acquired were said to have achieved on-grid connection in late December 2014, which totalled around 410MW. 

GCL-Poly said it expected polysilicon prices to remain stable in 2015, due to expected lower foreign imported polysilicon and growing downstream PV market demand.

Financing 

The only cloud over GCL-Poly remained its need to seek new capital and replace existing lines of credit. However, management stressed in its annual report that it was working with a number of banks to address the issue and was confident it would have sufficient liquidity to continue selectively expanding its downstream business in 2015.

11 October 2022
RE+ Florida returns in 2022. Solar & Energy Storage Florida is now RE+ Florida! This premier event for the Sunshine State will return October 11-12, 2022 in Miami.
11 October 2022
PV CellTech Extra will be held as a series of live webinars and on-demand sessions on 11-13 October 2022. We'll be taking a slightly further forward-looking view at the technologies and roadmaps for new cell architectures set to dominate mass production during 2023-2025 with special emphasis on the potential timelines for technologies beyond the single-junction cell design, including perovskite and hybrid concepts.
13 October 2022
The 2022 ACORE Grid Forum is a one-day event that convenes regulators, renewable, storage and transmission companies, and other leading grid experts in Washington, D.C. Speakers will examine the roles of administrative orders and actions, infrastructure policy, regional and state developments, and private sector strategies on the path to a carbon-free grid.
18 October 2022
The solar, storage and EV industries in the UK are going from strength to strength. There is no better place for the community to meet, share ideas and do business than Solar & Storage Live from 18-20 October at the NEC. There’s something for everyone; more than 150 exhibitors, a high-level conference, a start up and innovation zone, a poster zone, strategic partners to network with and much more. 
18 October 2022
The global PV market is entering a new era at unprecedented speed. The demand for high-power PV modules has soared, while interest in the future direction of solar technologies has intensified. Tongwei wants to create discussions between EPC companies, investors, and distributors, especially in Europe, which the company sees as a key growth market. Understanding the opinions and needs of clients in terms of shingled or N-type technology, as well as larger module size, is vital to Tongwei’s success in Europe and beyond. In this PV Tech TechTalk webinar, experts from TÜV NORD and Tongwei's CTO will discuss the risk analysis and reliability of the company’s shingled module technology and its applicability to different European markets.
26 October 2022
All-Energy Australia is the country's largest and most anticipated clean energy event in Australia, which opens up a world of opportunities for industry suppliers and experts as well as those involved in renewable energy and energy storage sectors to expand business networks. Featuring more than 250 suppliers and attracting more than 10,000 industry professionals, All-Energy Australia is a must-attend event in the industry's calendar. Be part of this free-to-attend exhibition and conference from 26-27 October 2022 at the Melbourne Convention and Exhibition Centre.

Read Next

October 6, 2022
Voltalia has signed a corporate power purchase agreement with mining company Richard Bay Minerals, subsidiary of Rio Tinto, in South Africa.
October 6, 2022
Portuguese utility EDP Renewables (EDPR) has completed the acquisition of a 70% stake in German solar developer Kronos Solar Projects.
October 6, 2022
The US Department of the Treasury and the Internal Revenue Service (IRS) have requested stakeholder input on the climate and clean energy tax incentives included in the country’s Inflation Reduction Act (IRA).
October 6, 2022
Waaree Energies has raised US$120 million from investors to expand its module and cell production capacity in India.
October 6, 2022
Around 35GW of PV manufacturing in Europe is at risk of being mothballed as elevated power prices damage the continent’s efforts to build a solar supply chain, research from Rystad Energy suggests.
October 6, 2022
Canadian energy company Suncor Energy has reached an agreement to sell its solar and wind assets to Canadian Utilities, an ATCO subsidiary, for C$730 million (US$535 million).

Subscribe to Newsletter

Upcoming Events

On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)
Solar Media Events
November 29, 2022
Malaga, Spain