GCL-Poly Ends PV JV Agreement, Secures Ingot Furnace Supply

GCL-Poly Energy (3800.HK) has terminated a PV farm joint venture with China Investment Corporation (CIC) subsidiary Chengdong Investment Corp, GCL announced on November 26. GCL plans to continue making direct investments in solar farms internationally in the future, said the announcement.

According to a separate report, GCL subsidiary Jiangsu GCL Silicon Material Technology has agreed to buy 150 sets of polysilicon ingot furnaces, worth RMB 402 million, from Zhejiang Jinggong Science & Technology (002006.SZ), to be delivered before the end of June 2011, Zhejiang Jinggong announced on November 27. The furnaces will supply Jiangsu GCL's 1.4 GW ingot project, according to the announcement.