Xinhua Silk Road: GCLSI to expand presence in new energy sector with aid of favorable policies

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Jan 05, 2021, 20:00 ET

BEIJING, Jan. 5, 2021 /PRNewswire/ -- GCL System Integration (GCLSI) will further expand its presence in the new energy industry as the Chinese authorities have rolled out a series of favorable policies for development of the industry.

With the aid of these policies, GCLSI has accelerated its expansion on the domestic market and put a number of new energy projects into production.

In early December, GCLSI launched a production base for photovoltaic (PV) modules in Hefei, capital of east China's Anhui Province. With a total investment of 18 billion yuan (about 2.75 billion U.S. dollars), the production base will be built in four stages between 2020 and 2023, with the first 15GW capacity under construction now.

"With the commissioning of the large-scale production base, the 182mm and 210mm silicon wafers will shape the industry by replacing outdated products," said Eric Luo, chairman of GCLSI.

In the process of expanding its presence in the industry, GCLSI has also gained strong support from the financial institutions which particularly focus on the green projects.

On November 23, GCL, the parent company of GCLSI, signed an agreement with China Construction Bank (CCB), and the Administration of National Xinjiang Zhundong Economic-Technological Development Park to develop an integrated wind power and PV power storage project in northwest China.

In addition to its expansion on the domestic market, the company has also gained strong momentum in the overseas market, with the overseas business accounting for nearly 70 percent of its performance in the past years.

Currently, the company has taken the lead to provide high efficiency PV modules and solutions for more than 55 countries and regions around the world.

Listed on Shenzhen Stock Exchange, the GCLSI has formed an integrated industrial chain in the PV industry. With innovation as a priority in its development, it has registered over 3,000 patents and copyrights in the field of clean energy.

SOURCE Xinhua Silk Road