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Chinese solar firms to build solar plants in Europe and US

GCL-Poly plans PV projects with Winsun New Energy and Shunfeng Photovoltaic and plans to expand into US

The Chinese firms plan to build solar plants in Europe and the US
The Chinese firms plan to build PV plants in Europe and the US

China solar firms are to build solar plants in Europe and the US. Winsun New Energy and Shunfeng Photovoltaic are teaming with GCL-Poly Energy Holdings to plan and build solar farms in Europe, according to reports.
 
Meanwhile, firm GCL-Poly already has plans to build more solar farms in the US and China.

PV-Tech reported that the company said “the group will promote the development of solar farm globally with its low cost, high quality and high efficiency model.”

GCL-Poly, China's largest polysilicon and wafer maker, said it has plans to expand its solar farm business in China, the US and in emerging markets.

Reuters reported that GCL-Poly's chairman and CEO, Zhu Gongshan, said he expects the industry to continue to consolidate in 2012 amid stiff competition and overcapacity, but said things will improve in 2013.

"Despite the European debt crisis that continues to grip the solar sector, prospects for the solar industry are looking good for 2013," Zhu said, as markets expand in Japan, India and the Middle East with national solar plans being developed in Saudi Arabia, Qatar and Israel.

Overcapacity and a collapse in prices are driving Chinese solar firms to venture into solar farm development to boost revenue and push inventory at a time when global peers are struggling under limited funding and news of bankruptcies at solar companies in the US.

GCL-Poly said it has more than 200 MW in projects ready for construction this year and 300 MW more planned for the United States and Puerto Rico, although the company did not provide a time frame for those.

In 2011, GCL-Poly's solar farm projects in operation in the US hit 16 MW, generating sales of USD 5.09 million.

The company in 2010 acquired a 50 percent stake in US. solar firm SolarReserve's 1,100MW photovoltaic U.S. development pipeline. Projects are being considered for California, Nevada, Utah, and Colorado.