星期五, 25 4 月, 2025
Home PV News Poly maker pulls out of wafer JV with semiconductor company

Poly maker pulls out of wafer JV with semiconductor company

GCL-Poly has pulled its commitment to inject US$68m into a 30 GW production capacity wafer fab joint venture established with Tianjin Zhonghuan in the Chinese autonomous region of Inner Mongolia, citing a preference to focus on ‘more competitive products’.

Source:pv magazine

Chinese polysilicon manufacturer GCL-Poly today withdrew from a wafer-making joint venture established with semiconductor company Tianjin Zhonghuan.

GCL-Poly Energy Holdings Ltd subsidiaries Jiangsu Zhongneng Polysilicon Technology Development Co Ltd and Konca Solar Cell Co Ltd transferred their respective 18% and 12% shares in Inner Mongolia Zhonghuan GCL to JV partner Tianjin Zhonghuan.

A statement issued on the Hong Kong Stock Exchange where GCL-Poly is listed said the move would continue the poly company’s strategy of “further consolidating its product structure by investing … [in] more competitive products”.

The development means GCL-Poly units Jiangsu Zhongneng and Konca will no longer have to invest RMB288 million (US$41 million) and RMB192 million into the JV, respectively.

GCL-Poly indirect subsidiary Suzhou GCL Technology had originally committed, in May, to invest RMB800 million in the venture. That figure was revised down in July before Suzhou’s commitment was split between its two fellow GCL-Poly subsidiaries in October.

The joint venture is a 30 GW annual production capacity solar wafer manufacturing facility set up in the Inner Mongolian capital of Hohhot by GCL-Poly and Tianjin Zhonghuan. Suzhou GCL had committed to raise its stake in the project from 30% to 31.27% in June as part of a RMB9.13 billion plan to raise output capacity to 55 GW over three-and-a-half years.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Azerbaijan and China sign more than 2GW renewable energy agreements

During President Ilham Aliyev’s state visit to China, Azerbaijan signed six major agreements with Chinese partners to boost cooperation in the renewable energy sector,...

CLOU Electronics Sets New Safety Benchmark in Energy Storage with TS-800 Fire Test Certification

Energy storage has garnered unprecedented attention regarding its safety and reliability. On January 16, 2025, a fire broke out at the Moss Landing lithium...

E.ON cooperate with Superdielectrics to develop energy storage

E.ON is now working with a UK-based battery tech firm to advance more environmentally friendly energy storage for households. Energy utility giant E.ON has entered...

Trinasolar Unveils High-Power i-TOPCon Ultra Modules at Korea’s Green Energy Expo

Trinasolar, a global leader in smart PV and energy storage solutions, unveiled its revolutionary i‑TOPCon Ultra technology at Korea's Green Energy Expo in Daegu....