Having recently teamed with Suntech, state-owned firm Phono Solar has signed a new agreement with GCL-Poly to build PV power plants in China. GCL-Poly already has plans to move downstream, having partnered with Winsun New Energy and Shunfeng Photovoltaic for projects in both China and Europe.

“These are hard times in the market and we need to pull through together. The PV market is large enough to allow for cooperation,” noted Cai Jibo, president of Phono Solar. “In this current climate even the largest companies should look beyond traditional business practice and move towards a position of cooperation above competition. Partnerships which aim to share industrial resources will mutually benefit manufacturers and play a positive role in promoting the sustainable and healthy development of the renewable energy industry in China.”

In a statement concerning the agreement with GCL-Poly, Jibo confirmed that Phono Solar had signed an agreement with Suntech. “Both our cooperation with GCL and our recent cooperation with Suntech aim to further develop photovoltaic plant projects in China,” stated Jibo.

The Phono Solar executive added that due to its being a subsidiary of one of the Top 500 enterprises in the world, China Machinery Industry Corporation (SINOMACH), the company had access to state financing for quick access to its domestic market, while providing opportunities to develop projects overseas.

“Recent events, including the release of the US Commerce Department’s preliminary decision on imposing tariffs, will cause the industry to suffer a setback in terms of development, but challenges also offer new opportunities. Photovoltaic manufacturers are looking to push forward by improving panel efficiency and reducing costs through technological innovation, while advancing management through the reconstruction of business models,” added Zhu Gongshan, president of GCL.