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GCL-Poly Energy Holdings
Ltd, the largest polysilicon
producer in China, has
signed a long-term agreement
to supply silicon wafers to
Indosolar Ltd. The deal is valued
at $600 million.
Under the agreement, GCLPoly
will provide 209 million
high quality silicon wafers
(approximately 815 MW) in
the next four years.
In another development,
Wells Fargo & Company will
invest over $100 million by
end of 2011 to fund the development
of solar photovoltaic
power projects throughout
the US by GCL Solar Energy
Inc, a subsidiary of the Hong
Kong-based firm.
The financing will enable
GCL Solar, which is based in
San Francisco (California) in
the US, to build and operate
solar power plants, while providing
its customers with the
ability to buy the electricity
under long-term power purchase
agreements at rates
equal to or lower than traditional
utility rates.
Established in 2009, GCL
Solar Energy builds, owns,
and operates solar photovoltaic
power plants, and
plans to become a leading
investor and operator of solar
power generation projects in
North America.
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