GCL New Energy, an operational segment under the GCL-Poly, has signed cooperation agreements with three companies to construct 4.15GW of PV projects in China. These agreements also suggested GCL to acquire 755MW of existing Chinese PV projects.
According to the agreements, GCL will construct 3GW of PV projects with GD Solar in Gansu, Inner Mongolia, Shannxi, Ningxia and Liaoning from 2014 to 2016. The rest 1.15GW of projects will be developed with Huanghe Solar (150MW) and CSR Zhuzhou National Engineering Research Center of Converters (1GW) by 2016.
SolarServer explained in an article that GD Solar will assist CGL to acquire 255MW of PV projects through partner companies and 500MW of additional PV. Regarding the partnership with CSR, GCL is responsible for formulating the investment strategy, investment criteria, return targets and engineering, procurement and construction (EPC) development plan for these projects. CSR will be responsible for field inspections, including securing land and rooftop usage rights, obtaining project permits and other preliminary project work. The 150MW project with Huanghe Solar will be co-developed by both companies and GCL will have majority control.