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GCL and NRG form new solar company

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chmcnfunds   Monday, 02/06/12 11:58:36 AM
Re: None
Post # of 85 
GCL and NRG form new solar company

06. FEBRUARY 2012 |


China-based GCL-Poly Energy Holdings Limited and U.S. company NRG Solar LLC have established a new solar company, Sunora Energy Solutions 1 LLC. Each party owns 50 percent.

GCL-Poly has been supplying its photovoltaic equipment to NRG.

Under the new joint venture (JV) announced today, NRG says it will to develop photovoltaic projects using GCL-Poly’s photovoltaic system equipment and its racking technologies. The goal is to "substantially enhance the financial returns of the projects".

Since the start of the fourth quarter of 2011, GCL has supplied NRG with 70 megawatts (MW) worth of photovoltaic equipment. In a statement released, it was added, "GCL-Poly may have an opportunity to provide NRG Solar 200 MW of PV equipment for each year until end of 2014."

The parties declined to provide any further information rearding the new company or its planned projects.


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