Economy
Financial Markets
Energy & Commodities
Industries
Stocks / IPOs
Real Estate
Company - Domestic
Company - Overseas
R&D
Industrial Parks

 
Company - Domestic
 Search News  Or
GCL-Poly, CIC to tap solar energy sector

Dec. 17, 2009 (China Knowledge) - Hong Kong’s integrated energy company, GCL-Poly Energy Holdings Limited<3800> plans to set up a joint venture with China Investment Corp, the sovereign wealth fund, to focus on investment in the overseas solar energy sector, according to Samuel Tong, CFO of the Hong Kong-listed company.

The JV, with a registered capital of US$500 million at the beginning, will mainly invest in solar power generation stations overseas. The two sides are doing due diligence on some proposals from the U.S and Europe in anticipation that the first deal to be concluded in 2010, said Tong.

Reported, GCL-Poly, the largest polysilicon producer in China, will hold a 51% stake in the JV.

Last month, CIC announced that it would spend HK$5.5 billion to buy a 20% stake in GCL-Poly Energy.







Copyright © "2013" www.chinaknowledge.com

Send feedback or comments to: news@chinaknowledge.com

For more news, financial weekly reports, business guides to China, Market Research Reports and other premium information, subscribe to China Knowledge today

To access our page on Bloomberg, type CKFI (GO)

 Our Professional Services
 News Archive
About Us | CSR | Media Center | E-Newsletter | E-Store | Contact Us | Feedback | Sitemap | Privacy Policy | Terms of Use  

           Copyright © 2014 China Knowledge Online. All Rights Reserved