Chinese PV Industry Brief: 10 GW for Canadian Solar in Jiangsu

Canadian Solar has agreed to invest $1.5 billion in a 10 GW solar cell and module factory in eastern China. GCL New Energy, meanwhile, has revealed the terms of a plan to sell a solar project portfolio to state-owned Huaneng.

Canadian Solar said on Monday that it has signed an agreement with the municipal government in Suqian, Jiangsu province, to build a 10 GW solar cell and module factory. It plans to invest about RMB10.2 billion ($1.5 billion). The company expects to reach full production capacity within two years.

GCL New Energy has revealed the terms of its plan to sell a solar project portfolio to state-owned power group Huaneng. The proposed 294 MW sale, which was initially expected to bring in RMB3.74 billion (US$550.8 million), has been adjusted. It now involves 403 MW of capacity for RMB3.19 billion. The proposed sale will be voted on by shareholders of GCL New Energy and its polysilicon-producing parent, GCL-Poly.

SFSY‘s shareholders have voted in favor of a plan to acquire a 47.5% controlling stake in Zibo Qilu Chemical Industry Zone Thermal Co. Ltd. The company operates a coal-burning power plant owned by SFSY’s main shareholder, state-owned Shuifa.

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