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Hong Kong and Spanish solar firms to build 1 GW of PV farms worldwide

GCL-Poly and ISOFOTON to jointly develop lost cost solar farm projects and invest in PV in Brazil, China and US

The EU and Asian solar companies are aiming develop 1GW of PV farms worldwide
The EU and Asian solar companies are aiming develop 1GW of PV farms worldwide

Solar firms in Hong Kong and Spain have joined up to develop 1 GW of PV farms around the world. GCL-Poly Energy has entered into a memorandum of understanding (MOU) with Spain’s ISOFOTON to build the solar parks.

According to the MOU, both parties plan to co-develop and construct 1 GW of solar farms globally. This could include locations in Brazil, China and the US as the companies aim to invest in these PV markets.  

Both parties will also form a joint venture company to manufacture solar trackers for the PV and HCPV modules used by the project. The parties jointly aim to “speed up the development and utilisation of solar energy and promote the application of clean energy”.

Mr Angel Luis Serrano, the president and CEO of ISOFOTON, said: “This partnership confirms ISOFOTON’s strategy of investing in the PV emerging markets, such as Latin America, the US and China, which will lead the PV market development of the next decade.

“By capitalising on our strong experience in developing solar farm projects and the manufacturing of solar trackers, we are confident that the partnership will add values to both of us and also contribute to the global solar industry development.”

GCL-Poly is responsible to arrange project finance and EPC services for the Project. ISOFOTON, a pioneer in the design, manufacturing and distribution of solar solutions, will supply modules for the project and agree to purchase all the wafers and a portion of the cells needed.

In addition, the Group will consider building a plant with ISOFOTON to manufacture PV/HCPV tracker system. ISOFOTON will provide the leading tracker system technology to the plant.

Mr. Zhu Gongshan, chairman of the board of directors of GCL-Poly, said: “We are very pleased to cooperate with ISOFOTON, a leading developer of application solution in solar power generation, and establish the best and the most professional operating platform for the worldwide solar power system business.

“The group will promote the development of solar farm globally with its low cost, high quality and high efficiency model.”