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GCL-Poly Energy, U.S. NRG Solar launch JV

Feb. 8, 2012 (China Knowledge) - GCL-Poly Energy Holdings Ltd<3800>, a foreign-owned independent cogeneration plant operator in China, and U.S.-based NRG Solar LLC have set up a joint venture to tap the photovoltaic (PV) power market in North America.

The 50:50 JV, named Sunora Energy Solutions 1 LLC, will focus on the development of photovoltaic projects using GCL-Poly Energy's PV system equipment.
Zhu Hongshan, Chairman of GCL-Poly Energy, said the cooperation with NRG Solar will maximize the value of its equipment.

Since last October, the Chinese partner has supplied 70 megawatts (MW) of PV equipment to NRG Solar, and the amount is expected to reach 200 MW per year until the end of 2014.

In addition, Hong Kong-listed GCL-Poly Energy has teamed up with Taiwan-based Hon Hai Precision Industry Co, the world's largest contract electronics manufacturer by revenue and the parent company Foxconn International Holdings Ltd <2038>, to jointly develop a large PV project in Shanxi Province with an investment of RMB 40.2 billion.

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