GCL-Poly forms JV with NRG Solar

HONG KONG: GCL-Poly Energy Holdings Ltd and NRG Solar LLC, a leading photovoltaic utility project developer in the United States, through their respective wholly-owned subsidiary, formed a joint venture named Sunora Energy Solutions 1 LLC. Each of the shareholders owns 50 percent interest in Sunora accordingly.

Sunora will seek to build selected projects developed by NRG Solar using GCL-Poly’s performance-optimized PV system equipment and NRG’s proprietary advanced racking technologies to substantially enhance the financial returns of the projects.

In addition, GCL-Poly has provided a total of 70 megawatts of PV equipment to NRG Solar since the beginning in the fourth quarter of 2011 and early 2012. GCL-Poly may have an opportunity to provide NRG Solar 200MW of PV equipment for each year until end of 2014.

Gongshan Zhu, chairman of the GCL-Poly, said: “NRG Solar is one of the largest PV project developers in the United States. We are pleased to collaborate with NRG Solar where we can maximize the values of performance-optimized system equipment. This transaction is our first step toward a strong and strategic partnership with NRG Solar. We look forward to bringing the value of GCL-Poly to a fast-growing US solar market through this partnership.”