GCL-SI bags A bankability score at PV ModuleTech 2019

Facebook
Twitter
LinkedIn
Reddit
Email
Image credit: GCL-SI

China-headquartered GCL-SI was among the module makers recognised at this year’s PV ModuleTech, arranged in Malaysia by PV Tech’s publisher Solar Media.

The ‘Solar Module Super League’ (SMSL) member was one of four firms scooping up an ‘A’ rating under a new ranking for module manufacturers, unveiled during the two-day trade show in Penang’s G-Hotel Gurney this week.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

PV Tech’s market research team awarded the score to GCL-SI – as well as several of its peers in its module making segment – after five years’ worth of painstaking data collection and module market research.

GCL-SI’s 'A' rating was meant to reflect its performance on the manufacturing front – shipment volumes and other parameters – but also the state of its finances, to help guide solar developers, EPCs and investors assessing the firm or other potential candidates as module suppliers.

For GCL-SI, the distinction comes as it presses ahead with efforts to ramp up business overseas. In late April, the firm revealed its module shipments beyond China reached the 2.3GW threshold in 2018, a 52.9% hike on 2017 records.

The manufacturer is working to keep up the momentum this year. By the end of 2019, according to the plans laid out in April, overseas shipments should account for 80% of the total. Target regions include Western Europe, Japan and South Korea.

The firm’s CEO, Eric Luo, caught up with PV Tech at this year’s Intersolar Europe edition. Speaking at the Munich event, he predicted China would witness 25GW worth of solar installations in the second half of the year, triggering a jump in module prices.

“In the second half [of the year] the module price will go up 10-15% easily. China will install 25GW in the second half of the year,” Luo told this publication.

“EPCs need to be securing supply now and making sure delivery will be on time. I'd repeat what I said at Davos: the party is over for cheap modules. That price rise will begin in H2. Around 5GW was installed in the first quarter and I'd expect perhaps 5GW in Q2 and now 25GW in the rest of the year,” GCL-SI’s CEO added.

The firm’s latest financial reports show full-year revenues were down 22% between 2017 (RMB 14.44 billion) and 2018 (RMB 11.1 billion). Net profits, meanwhile, soared by 89.16% year-on-year, reaching RMB34.9 million (US$5.2 million).

See here for more information on the agenda, speakers and debate themes of this year's PV ModuleTech, held in Penang on 22-23 October 2019 

25 April 2024
5pm BST (9am PDT)
The webinar will provide the very latest trends in PV module supply and what is important when assessing product quality and reliability. How many of the imported modules for example, from Southeast Asia and India, are based on n-type TOPCon and heterojunction now? What is important to look at when assessing these new technologies’ reliability?
21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA