GCL System Integration Technology (GCL-SI), (SHE: 002506), a subsidiary of world’s leading energy group GCL, announced on Sept 21 that it will undergo a non-public offering of shares to raise some 3,100 million yuan to focus on the photovoltaic (PV) industry. The investment will go to three projects that will in together expand the company’s product line and sharpen its competitive edge.
GCL-SI will invest about 1,900 million yuan in a high-efficient PV cell production project in Xuzhou, Jiangsu province. It will adopt the PERC technology and the N-type double-sided technology. The project will have an annual yield of 1600MW PV cells of high-efficiency and differentiation. The second project, worth of some 500 million yuan, is to produce 250MW super-efficient heterojunction PV cells every year. GCL-SI will also build a plant in Suzhou to produce 500MWh of energy storage battery every year.
According to GCL-SI, the market demand for components of high-efficiency and large differentiation is growing in the recent years. The world’s topnotch system integration technology provider has not entered cells manufacturing yet. Cells used in GCL-SI’s production process are purchased from other parties. A late cells supply might delay the delivery of the whole system integration project. The company’s focus on the PV industry will offer a strong support to the development of system integration products of high-efficiency and differentiation, according to the company. This new move will also extend the company’s industrial chain and lowering production costs.
In addition, GCL-SI’s efforts in energy storage development also plays a significant role for the PV industry. Natural light and weather have a large impact on the result of electricity generation using PV cells, which is different from electricity generation with traditional energy or technology. The introduction of energy storage technology will help keep a steady and safe condition for electricity generation, making PV cells more popular in electricity generation, according to GCL-SI.
As almost every industry is undergoing upgrading and improving to be more competitive, to offer a product line with large variety is one way of surviving and toping others. By tapping into the PV industry, GCL-SI will offer more different system integration solutions and products and maintain its position as a leading player in the industry, according to the company.
GCL System Integration Technology Co., Ltd. (002506 Shenzhen Stock) (GCL-SI), is part of the GOLDEN CONCORD Group (GCL), an international energy company specializing in clean and sustainable power production, founded in 1990. With global assets worth nearly USD16 billion, the combined companies delivered over 2 GW of modules globally in 2015, and currently supply more than 30% of all polysilicon and wafers utilized in the solar industry.