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GCL System Integration Technology Co., Ltd. (GCLSI), a China-based vertically integrated solar PV solution supplier, announced on June 15 to raise up to RMB3.35 billion through offering private placement of at most 700,000,000 shares for developing high-efficiency and ultra-high-efficiency PV cell technologies as well as energy storage systems.
GCLSI plans to deploy RMB1 billion for liquidity extension for improving PV R&D, equipment and technologies. Other fund will be used for developing 1.85GW of PV cell technologies and 500MWh of energy storage systems.
1.85GW of high- and ultra-high-efficiency PV cells
To enhance GCL groups’ difference from its competitors, GCLSI plans to invest RMB1.6 billion from the fund in developing high-efficiency PV cell technologies and RMB585 million in 250MW of ultra-high-efficiency HJT (heterojunction) PV cells.
GCLSI recognizes high-efficiency products as the key to survive, or be stand out, from the competitive PV market. As a result, GCLSI aims to invest over RMB2 billion in engaging in production of high- and ultra-high-efficiency PV cell technologies through the private placement. The new PV cell production capacity will also strengthen the group’s vertically integrated structure, which is actually scanty of PV cell products.
The to-be-developed PV technologies include:
1.6GW of high-efficiency PV cell technologies:
250MW of ultra-high-efficiency PV cells:
HJT technology produces commercialized PV cells with conversion efficiency topping today’s PV industry. EnergyTrend also learns that many world-leading companies have already (or have plans to) established heterojunction PV cell production capacities. In Japan, Panasonic has commercialized HIT® series PV cells and modules; in Taiwan, Neo Solar Power scheduled to start production of 30~40MW HJT cell production by end-2016. USA-based SolarCity announced a plan to build a HJT manufacturing plant with production capacity of up to 2GW.
In China, Jinneng Group is another company that have unveiled plans to produce HJT cells/modules except for GCLSI.
500MWh of energy storage systems
“PV power generation + energy storage systems” marks the future of the whole new energy industry, says GCLSI. The company has made the debut of its first energy storage solution E-KwBe in this May as its commitment to developing battery solutions.
As China targets to have 70GW of distributed generation PV systems from the 150GW sum PV target suggested in the Thirteenth Five-Year Plan, GCLSI forecasts to see boom of demand to energy storage systems. Its new battery product, E-KwBe NC-S series, has already conducted development and will be available to clients very soon.
Through this phase of private placement, on the other hand, GCLSI will distribute RMB161 million in developing 500MWh of energy storage systems’ production capacity.