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GCL New Energy Adds 1.1GW of Solar PV Projects in 1H16

published: 2016-08-16 9:47

GCL New Energy, a solar system developing subsidiary of GCL Group, has unveiled its solar development report for the first half of 2016. In China, GCL New Energy has installed a total of 2.7GW of solar PV systems, of which 1.1GW were completed in the first six months of 2016.

GCL New Energy expects profit for 1H16 of no less than RMB 130 million, according to a positive alert to investors the company filed with Hong Kong stock exchange. The profit expectation is up from RMB71.2 million in 1H15.

PV industry in China to transform

China’s PV grid connection capacity reached up to 22GW in the first half of 2016 due to installation rush by June 30 that driven by policies to reduce subsidies. The grid connection record also improved China’s cumulative PV connections to 60GW or more.

The Chinese government has gradually introduced several policies and schemes for solar PV industry along with the implement of the nation’s “Thirteenth Five-Year Plan.” There are two aspects regarding these policies and schemes that will transform China’s PV industry: 1) installing restrictions on large-scale PV power plants due to PV electricity curtailment; and 2) encouragement to applications such as Top Runner Program, PV alleviation program, and distributed PV generation projects that can create extra value.

GCL Group is positive to Chinese PV market’s demand shifting toward high efficiency products so it has come up with new development plans earlier this year. GCL announced to invest in developing high-efficiency technologies including black silicon, HJT cells, PERC cells and N-type cells. It has also launched a manufacturing factory for producing energy storage systems.

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