Shanghai Electric to acquire 51% of GCL’s polysilicon subsidiary
GCL-Poly Energy Holdings has brought Shanghai Electric Group as a major investor on board to support the growth of GCL’s subsidiary Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd., China’s largest polysilicon manufacturer. According to a framework agreement released on June 6, Shanghai Electric will acquire a 51% stake in Jiangsu Zhongneng’s equity.
The value of Jiangsu Zhongneng is estimated at up to RMB25 billion (USD3.9 billion).
Already on December 20, 2017, GCL announced that “certain potential investors have indicated their interest to invest in the Company’s solar material business.” At that time, GCL also considered a spin-off of the solar material business and its listing on the Shenzhen or Shanghai Stock Exchange.
State-owned Shanghai Electric is one of the largest Chinese manufacturing conglomerates, which mainly produces equipment used in nuclear, thermal and wind power plants. In a joint venture with Shenhua Group, the company entered the solar industry with the purchase of CIGS thin-film module technology from German equipment manufacturer Manz AG in 2017.
Get more information ...
- on the background and ranking of the world’s top ten producers: polysilicon manufacturers
- on the Siemens process, FBR technology and UMG silicon: polysilicon production processes
- on the application of polysilicon in semiconductors and solar cells: polysilicon uses
- on the size, shares and trends of the market and China’s role: polysilicon market analysis
- on the current polysilicon spot price, charts, price forecast and history: polysilicon price trend
Gain in-depth insight – with the Polysilicon Market Outlook 2024
- Benefit from 76 pages full of rich data, in-depth analyses and detailed forecasts on the polysilicon, solar and semiconductor industries
- Learn all about the latest developments of polysilicon manufacturing technologies (Siemens process, fluidized bed reactor, upgraded metallurgical-grade silicon)
- Obtain comprehensive data on production volumes and capacities of 42 solar-grade and electronic-grade polysilicon plants from 2016 through 2024
- Gain insight into decisive market trends, based on four sophisticated scenarios of supply and demand through 2024
- Get valuable guidance with cash cost data on 25 solar-grade polysilicon plants and spot price forecasts through 2024
Learn all about the polysilicon market
Comments
Add a comment