GCL Strengthens Solar Projects Within 'Belt and Road' Countries

GCL Strengthens Solar Projects Within 'Belt and Road' Countries

PR Newswire

SUZHOU, China, Oct. 22, 2018

SUZHOU, China, Oct. 22, 2018 /PRNewswire/ -- At the 2018 International Forum on Energy Transitions (the "Forum") in Suzhou, China, Mr. Zhu Gongshan, Chairman of GCL Group (the "Group"), and Mr. Luo Xin, President of GCL System Integration Technology Co., LTD. (SZ: 002506) ("GCL-SI"), the world's leading one-stop solutions provider for solar projects, offered an update on the Group's growth and expansion in companies that fall within China's "Belt and Road" Initiative (BRI).

Mr. Zhu Gongshan attended the 2018 Belt and Road Energy Ministerial Conference and International Forum on Energy Transition

GCL-SI saw a sales surge in the first half of this year, with sales of its modules climbing from last year's 14% to 45.8%, and its global market share reaching nearly 5%. Both affirmed that GCL Group would strengthen its global production strategy and expand its sales channels to increase its proportion of overseas sales.

"China is the world's largest manufacturer of green energy equipment, such as photovoltaics and wind power facilities," said Mr. Zhu. "The BRI is the most important oil and gas resource distribution area in the world, and Chinese energy companies are actively embracing and building a mutual and large-scale platform, boosting overseas oil and gas resources and China's new energy power to be widely integrated on a global scale and accelerate the energy revolution. GCL Group aims to be a big part of this evolution."

According to Mr. Luo, GCL-SI is poised to build a comprehensive industrial ecosystem, incorporating "'three platforms and one system,' which adopts the 'PV plus model.' For example, we aim to improve the multi-dimensional business model, such as the integration of photovoltaics and energy storage, supply chain financing, and operation and maintenance services, among others, to create greater value for our customers."

"GCL Group will firmly implement the 'photovoltaic internationalization' strategy, strengthen the company's arrangement in global production and sales channels, and increase the proportion of overseas sales. In the future, scientific and technological progress will further boost photovoltaic power's generating efficiency at a lower cost, while the market as a whole will strive to achieve grid parity and to develop Polycrystalline and Monocrystalline technology simultaneously," Zhu Gongshan said.

About GCL System Integration Technology Co., Ltd.

GCL System Integration Technology Co., Ltd. (SZ: 002506) (GCL-SI), is part of the GOLDEN CONCORD Group (GCL). GCL-SI delivers a one-stop, cutting-edge, integrated energy system and is committed to becoming the world's leading solar energy company.

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