GNE had 215 individual power plants located across 26 Chinese provinces at the end 2018, accounting for around 7.3GW of nameplate capacity. Image: GNE
Independent PV power producer, GCL New Energy (GNE), a division of GCL-Poly is selling a 70% shareholding in 19 PV power plants with an installed capacity of approximately 977MW for RMB 1.74 billion (US$251.5 million) to Ningbo Rongshang Investment Partnership, owned by Tibet Yunshang Investment Fund Management Co.
In a joint financial statement, GCL-Poly and GNE said that 14 GNE owned PV power plan project company subsidiaries were included in the deal.
GNE had 215 individual power plants located across 26 Chinese provinces at the end 2018, accounting for around 7.3GW of nameplate capacity.
GNE expects the net cash proceeds, which included the payment of outstanding dividends to be approximately RMB 2,060,000,000 (US$297.8 million), which GNE intends to use for repayment of its debts.
May 26 - May 27, 2021
Looking at the drivers and dynamics of utility scale solar in the UK & Ireland over the next five years. This event will consider the immediate challenges as we enter the build phase in both these markets where we could see as much as 4GW deployed in 2021 alone! What developments will continue the growth of 100MW+ sites and what impact will government policy have on the rate of deployment in both markets?Join leading developers and manufacturers shaping the direction of one of Europe’s most active markets and hear from speakers with a history of influencing innovation and change.
Mar 09 - Mar 11, 2021
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability. This event will be run online with streamed content and online networking.
Feb 03 - Feb 04, 2021
The business of solar is changing, as the industry scales up, technology, IT and new players to the market will add complexity. This sparks a host of opportunities such as co-location of solar and storage and the rise of unsubsidised solar projects as well as challenges which will question the very business model of European solar asset owners. Solar Finance & Investment Europe is the meeting place for institutional investors, sovereign wealth funds, solar, wind and storage funds and large energy buyers to do business.