GCL-SI To Invest In Vietnam For 600MW Solar Cell Production
GCL System Integration Technology Co., Ltd. recently announced its investment in Vina Cell Technology Co., Ltd., in trade for up to 600MW production capacity.
In the deal, GCL-SI will provide solar cell production equipment, whereas Vina offers plant, supporting facilities along with an experienced management team. According to the terms, of Vina's annual capacity of 600MW, 330MW will be dedicated to GCL-SI. This comprises exclusive use of Vina's PERC (passivated emitter rear cell) facilities.
Shu Hua, president of GCL-SI, commented: "The investment not only provides GCL System with cost advantage, but also helps streamline our supply chain by adding cell production into the system. The PERC capacity in particular helps ease current shortage of high-efficiency photovoltaic modules in the Chinese market."
The company's leadership team sees this investment as a strategic move to break into the US and European markets.