GCL-Poly Energy
From Taighde
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GCL-Poly Energy is a solar power plant company based in Hong Kong.
The China Investment Corporation invested $705 million into the company for a 20.16% stake on November 19, 2009.[1] The CIC is the second largest stakeholder in GCL. The investment will help create a joint venture that will focus on developing photovoltaic projects. Photovoltaic allows cells to form direct current electricity from solar radiation. The JV is expected to have about $500 million.
The CIC announced that it will also be investing in another JV by GCL-Poly. The new JV will will invest in solar power generation stations located in other countries. The JV is expected to have an initial capital of $500 million. The JV is expected to start making their first investment in early 2010. [2]
