China-Based GCL Sees Its Production of PV Modules Grow Fivefold in 2015, Making it the World's 7th Largest Manufacturer of PV modules

Feb 19, 2016, 09:30 ET from GCL

SUZHOU, China, Feb. 19, 2016 /PRNewswire/ -- China-based GCL System Integration Technology Co., Ltd. has become the world's 7th largest PV module manufacturer, according to leading Chinese photovoltaic industry information website Solarbe's recently released list of the world's top 10 photovoltaic module manufacturers for 2015. GCL's module sales volume is expected to reach up to between 2.5 GW to 2.7 GW in the first year following its asset restructuring, five times its output of 500MW in 2014.

As of the end of 2015, GCL had the 6th highest PV module production capacity in China, with an internal capacity for module production reaching 3.7 GW, including 3 GW of high-efficiency modules. Its Zhangjiagang plant is China's largest and most automated production plant for high-efficiency PV modules. GCL expects that its in-house capacity for module production will continue to grow and exceed 6 GW in 2016.

GCL, which supplies highly efficient PV modules for key clients such as China Minsheng Investment, PowerChina, Kong Sun Holdings Limited and ZTE Corporation as well as India-based Adani Group, made a strong entry into the market and is increasingly competitive in product differentiation. At the same time, GCL has released advanced products, including the 96-cell high conversion efficiency module as well as monocrystalline and polycrystalline batteries that utilize PERC solar cell technology, and developed several service offerings including system integration design, financial insurance, product operation and maintenance among others, all of which served to considerably boost the sales of the modules.

GCL board chairman Shu Hua said the firm plans to aggressively expand its share in markets outside of China in 2016. GCL has already created a sales network that covers 17 countries and seen breakthrough progress in the opening of production plants around the world. The facility in India has just gone into full production and is expected to contribute to overall production capacity this year.

China's National Energy Administration (NEA) has embarked on a series of initiatives in 2015, including implementation of the "Top Runner Programme" as well as the roll out of the plan to construct several solar PV demonstration bases, among other policy initiatives. These efforts serve to demonstrate the active role that the Chinese government has assumed in promoting the development of PV products that are both efficient and of high quality. As a result of these initiatives, GCL's sales of integrated modules are expected to show further growth in 2016. GCL, on the back of the expansion plans for each of the main module factories, is hopeful that it will continue to advance its status in the industry and climb into 5th place in terms of production volume.

According to one of GCL's previous announcements, the firm saw a net profit of 376 million yuan from January to September, a year-on-year increase of 175.24%. Judging from GCL's production expectations for the year and current market conditions, it appears promising that GCL will deliver on its commitment to achieve a net profit of 600 million yuan for 2015.

About GCL

GCL System Integration Technology Co., Ltd (002506.SZ) is committed to creating the world's leading one-stop intelligent integrated energy system integrator. The company aims at becoming an incorporate 'design + product + service' pack supplier based on technology research and development; it regards design optimization as the support, system integration as the carrier, financial services support as the bridge and smart operational support services as the backup to build a differentiated leading business model.

http://en.gclsi.com/

SOURCE GCL