Leading polysilicon and multicrystalline wafer producer GCL-Poly Energy Holding's dedicated wafer production subsidiary, GCL-Poly (Suzhou) New Energy has reported first-quarter 2018 revenue increase, quarter-on-quarter and year-on-year, after increasing wafer capacity by 62.2% by the end of 2017.
Softbank Vision Fund (SBVF) and GCL Group holding company have signed a memorandum of understanding (MoU) to launch a US$930 million joint venture in the Indian state of Andhra Pradesh, primarily to manufacture PV ingots, wafers, solar cells and modules.
Leading polysilicon and solar wafer producer GCL-Poly Energy Holdings has reported a significant increase in nameplate wafer capacity in 2017, going from 18.5GW in 2016 to 30GW at the end of 2017, a 62.2% rise.
GCL New Energy Holdings (GNE), the downstream independent PV power producer arm of leading polysilicon and solar wafer producer GCL-Poly Energy Holdings, has secured a HK$8,000 million (US$1.02 billion) in new finance.
US-based solar module technology firm Solaria Corporation, which filed suit against GCL Solar Energy, Inc., a subsidiary of GCL-Poly Energy Holdings as well as Seraphim Solar System Co. Ltd due to claims of IP theft and breaches of Non-Disclosure Agreements has settled the litigation with GCL-Poly.
Leading polysilicon and solar wafer producer GCL-Poly Energy Holdings reported lower revenue and profits than expected in the first half of 2017, primarily due to wafer price erosion, only partially offset by higher wafer production volumes and stable polysilicon prices.
Leading polysilicon and solar wafer producer GCL-Poly Energy Holdings has sold a 10% share in its planned 60,000MT polysilicon plant in Xinjiang, China for around US$22 million (RMB 150 million) to monocrystalline wafer producer Tianjin Zhonghuan Semiconductor Co.
Leading polysilicon and solar wafer producer GCL-Poly Energy Holdings has experienced a rise in polysilicon prices over the last 12 months, while experiencing a similar decline in the selling prices of solar wafers, causing a collision in prices going in the opposite direction that massively impacted its wafer operations profitability in the first quarter of 2017.