Table of Contents
Table of Contents 2
List of Tables 5
Company Snapshot 7
Key Information 7
Company Overview 7
SWOT Snapshot 7
Operational Metrics 8
GCL-Poly Energy Holdings Ltd, Operational Metrics, By Capacity 8
GCL-Poly Energy Holdings Ltd, Operational Metrics, By Generation 8
GCL-Poly Energy Holdings Ltd, Operational Metrics, By Segmental Information 8
GCL-Poly Energy Holdings Ltd, Operational Metrics, By Sales 8
GCL-Poly Energy Holdings Ltd, Wind Farms 9
GCL-Poly Energy Holdings Ltd, Wind Farms, China 9
GCL-Poly Energy Holdings Ltd, Solar PV Parks 10
GCL-Poly Energy Holdings Ltd, Solar PV Parks, China 10
GCL-Poly Energy Holdings Ltd, Biopower Plants 15
GCL-Poly Energy Holdings Ltd, Biopower Plants, China 15
GCL-Poly Energy Holdings Ltd, Thermal Power Plants 16
GCL-Poly Energy Holdings Ltd, Thermal Power Plants, China 16
Business Description 18
Business Overview 18
Major Products and Services 19
History 20
SWOT Analysis 26
Overview 26
GCL-Poly Energy Holdings Ltd Strengths 26
Business Performance: Solar Material Business 26
Research and Development Activities 26
Business Performance: New Energy Business 26
GCL-Poly Energy Holdings Ltd Weaknesses 27
Working Capital Deficit 27
GCL-Poly Energy Holdings Ltd Opportunities 27
Government Initiatives 27
Positive Outlook for Solar PV: China 27
Strategic Initiatives 27
GCL-Poly Energy Holdings Ltd Threats 27
Technological Changes 27
Increasing Popularity of Substitute Energy Sources 28
Lead Pollution 28
Financial Ratios – Capital Market Ratios 29
Financial Ratios – Annual Ratios 29
Financial Ratios – Interim Ratios 31
Key Employees 32
Key Employee Biographies 33
Company Statement 34
Locations And Subsidiaries 36
Head Office 36
Other Locations & Subsidiaries 36
Financial Deals Landscape 38
GCL-Poly Energy Holdings Ltd, Deals Summary 38
GCL-Poly Energy Holdings Ltd, Power, Deal Details 41
Asset Transactions 41
GCL-Poly Energy to Acquire Solar Materials Businesses from SunEdison, SunEdison Products Singapore, MEMC Pasadena and Solaicx for USD150 Million 41
Suzhou GCL New Energy Investment to Acquire Four Solar Power Projects in China from Suzhou GCL-Poly Solar Energy Investment for USD1.8 Million 43
Suzhou GCL New Energy to Acquire 91% Interest in Yu Lin Heng Shan Solar Power Project in China from Xian Huanghe Photovoltaic Technology for USD13.2 Million 44
Suzhou GCL New Energy to Acquire 95.02% Stake in Jinhu Zhenghui PV Company for USD24.8 Million 45
Ciro Energy, One Planet And GCL Solar To Invest US$265 Million In Solar Power Project In Puerto Rico 46
GCL Solar Energy Sells Alpaugh 50 Solar Power Project in California for USD182.8 Million 47
GCL Solar Energy Sells Alpaugh North Solar Power Project in California for USD75.2 Million 48
GCL-Poly Energy Completes Project Financing For Municipal Solar Power Project Portfolio In California, US 49
GCL-Poly Energy Completes Tax Equity Financing For Solar Power Project In California, U.S. 50
GCL-Poly Energy Completes Tax Equity Financing For Solar Power Portfolio In California, U.S. 51
Partnerships 52
Suzhou GCL New Energy Investment to Form Joint Venture with GCL System Integration (Suzhou) 52
Canadian Solar Forms Joint Venture with GCL-Poly Solar System To Develop Crystalline Silicon Solar Cells in Jiangsu Province, China 53
GCL New Energy Forms Partnership with GD Solar for Development of Solar Projects in China 54
GCL New Energy Forms Joint Venture with Xi’an Huanghe Photovoltaic Technology for Development of Yu Lin Heng Shan Solar Project 55
GCL New Energy Forms Partnership with CSR Zhuzhou National Engineering Research Center of Converters 56
GCL-Poly Energy And NRG Solar Form Joint Venture 57
Canadian Solar To Form Joint Venture With Suzhou GCL 58
Equity Offering 59
GCL-Poly Energy Raises USD447.6 Million in Right Offering of Shares 59
GCL New Energy Raises USD95.7 Million in Private Placement of Shares 61
GCL-Poly Energy Raises USD25.7 Million in Private Placement of Shares 63
GCL-Poly Energy Completes Private Placement Of Shares For US$184.6 Million 65
Debt Offering 67
Suzhou GCL New Energy Investment Raises USD55.8 Million in First Tranche Private Placement of 7.5% Bonds Due 2020 67
GCL-Poly Energy Raises USD157 Million in First Tranche of Private Placement of 5.6% Bonds Due 2020 68
GCL-Poly Energy Holdings Raises USD110 Million in First Tranche of Private Placement of 7.5% Bonds Due 2018 69
GCL-Poly Energy Raises USD225 Million in Private Placement of 0.75% Bonds Due 2019 70
GCL-Poly Energy Raises USD81.6 Million in Private Placement of 7% Notes Due 2018 72
GCL-Poly Energy Raises USD106 Million in Private Placement of 5.5% Notes Due 2016 73
GCL-Poly to Raise USD65 Million in Private Placement of 5.23% Notes Due 2015 74
GCL-Poly Energy Raises USD65 Million in Private Placement of 6.05% Notes Due 2015 75
GCL-Poly Energy Completes Private Placement Of Bonds Due 2018 For US$200 Million 76
GCL-Poly Energy Raises USD97 Million in Private Placement of 5.8% Notes Due 2014 77
GCL-Poly Completes First Tranche Of Public Offering Of 5.8% Notes Due 2014 For US$96.6 Million 78
GCL-Poly Energy Completes Private Placement Of 6.9% Notes Due 2015 For US$63 Million 79
Asset Transactions 80
Fuyang New Energy Technology to Acquire Certain Photovoltaic Assets From Suzhou GCL New Energy 80
GCL New Energy to Acquire Three Solar Power Plants in China from GCL-Poly Energy 81
Con Edison Development Acquires Six Solar Power Plants in California, US from SolarReserve and GCL Solar Energy 82
Shanghai Miaochang Investment Management and Shanghai Zhongmin Yinfu Investment Management to Acquire Wafer Production Business from GCL-Poly Energy for USD961.4 Million 83
Jiangsu Golden Concord Energy to Acquire Wafer Production Business from GCL-Poly Energy for USD342.2 Million 84
GCL Solar Sells Two Solar PV Projects For US$50.5 Million In California, US 85
GCL Solar Energy Sells Solar PV Projects To ConEdison For US$266 Million In California, US 86
Acquisition 87
Shanghai Qichen Investment Management Completes Acquisition of GCL-Poly from Hank Rich for USD502.7 Million 87
Suzhou GCL New Energy Investment to Acquire Delingha Century Concord Photovoltaic Power from Yinhua Century Concord New Energy Investment for USD37.4 Million 88
Chengdong Investment To Sell Additional 7.75% Interest In GCL-Poly Energy For US$402.3 Million 89
GCL-Poly Energy Sells GCL Solar Energy For US$266 Million 91
Appendix 92
Report Scope 92
GlobalData Coverage 92
Benchmarking 92
GlobalData’s Methodology 92
Secondary Research 92
Primary Research 93
Contact Us 93
Disclaimer 93
GCL-Poly Energy Holdings Ltd, Key Facts 7
GCL-Poly Energy Holdings Ltd, Operational Metrics, Capacity 8
GCL-Poly Energy Holdings Ltd, Operational Metrics, Generation 8
GCL-Poly Energy Holdings Ltd, Operational Metrics, Segmental Information 8
GCL-Poly Energy Holdings Ltd, Operational Metrics, Sales 8
GCL-Poly Energy Holdings Ltd, Wind Farms, China 9
GCL-Poly Energy Holdings Ltd, Solar PV Parks, China 10
GCL-Poly Energy Holdings Ltd, Biopower Plants, China 15
GCL-Poly Energy Holdings Ltd, Thermal Power Plants, China 16
Major Products and Services 19
GCL-Poly Energy Holdings Ltd, SWOT Analysis 26
GCL-Poly Energy Holdings Ltd, Ratios based on current share price 29
GCL-Poly Energy Holdings Ltd, Annual Ratios 29
GCL-Poly Energy Holdings Ltd, Interim Ratios 31
GCL-Poly Energy Holdings Ltd, Key Employees 32
GCL-Poly Energy Holdings Ltd, Subsidiaries 36
GCL-Poly Energy Holdings Ltd, Deals Summary 38
GCL-Poly Energy to Acquire Solar Materials Businesses from SunEdison, SunEdison Products Singapore, MEMC Pasadena and Solaicx for USD150 Million 41
Suzhou GCL New Energy Investment to Acquire Four Solar Power Projects in China from Suzhou GCL-Poly Solar Energy Investment for USD1.8 Million 43
Suzhou GCL New Energy to Acquire 91% Interest in Yu Lin Heng Shan Solar Power Project in China from Xian Huanghe Photovoltaic Technology for USD13.2 Million 44
Suzhou GCL New Energy to Acquire 95.02% Stake in Jinhu Zhenghui PV Company for USD24.8 Million 45
Ciro Energy, One Planet And GCL Solar To Invest US$265 Million In Solar Power Project In Puerto Rico 46
GCL Solar Energy Sells Alpaugh 50 Solar Power Project in California for USD182.8 Million 47
GCL Solar Energy Sells Alpaugh North Solar Power Project in California for USD75.2 Million 48
GCL-Poly Energy Completes Project Financing For Municipal Solar Power Project Portfolio In California, US 49
GCL-Poly Energy Completes Tax Equity Financing For Solar Power Project In California, U.S. 50
GCL-Poly Energy Completes Tax Equity Financing For Solar Power Portfolio In California, U.S. 51
Suzhou GCL New Energy Investment to Form Joint Venture with GCL System Integration (Suzhou) 52
Canadian Solar Forms Joint Venture with GCL-Poly Solar System To Develop Crystalline Silicon Solar Cells in Jiangsu Province, China 53
GCL New Energy Forms Partnership with GD Solar for Development of Solar Projects in China 54
GCL New Energy Forms Joint Venture with Xi'an Huanghe Photovoltaic Technology for Development of Yu Lin Heng Shan Solar Project 55
GCL New Energy Forms Partnership with CSR Zhuzhou National Engineering Research Center of Converters 56
GCL-Poly Energy And NRG Solar Form Joint Venture 57
Canadian Solar To Form Joint Venture With Suzhou GCL 58
GCL-Poly Energy Raises USD447.6 Million in Right Offering of Shares 59
GCL New Energy Raises USD95.7 Million in Private Placement of Shares 61
GCL-Poly Energy Raises USD25.7 Million in Private Placement of Shares 63
GCL-Poly Energy Completes Private Placement Of Shares For US$184.6 Million 65
Suzhou GCL New Energy Investment Raises USD55.8 Million in First Tranche Private Placement of 7.5% Bonds Due 2020 67
GCL-Poly Energy Raises USD157 Million in First Tranche of Private Placement of 5.6% Bonds Due 2020 68
GCL-Poly Energy Holdings Raises USD110 Million in First Tranche of Private Placement of 7.5% Bonds Due 2018 69
GCL-Poly Energy Raises USD225 Million in Private Placement of 0.75% Bonds Due 2019 70
GCL-Poly Energy Raises USD81.6 Million in Private Placement of 7% Notes Due 2018 72
GCL-Poly Energy Raises USD106 Million in Private Placement of 5.5% Notes Due 2016 73
GCL-Poly to Raise USD65 Million in Private Placement of 5.23% Notes Due 2015 74
GCL-Poly Energy Raises USD65 Million in Private Placement of 6.05% Notes Due 2015 75
GCL-Poly Energy Completes Private Placement Of Bonds Due 2018 For US$200 Million 76
GCL-Poly Energy Raises USD97 Million in Private Placement of 5.8% Notes Due 2014 77
GCL-Poly Completes First Tranche Of Public Offering Of 5.8% Notes Due 2014 For US$96.6 Million 78
GCL-Poly Energy Completes Private Placement Of 6.9% Notes Due 2015 For US$63 Million 79
Fuyang New Energy Technology to Acquire Certain Photovoltaic Assets From Suzhou GCL New Energy 80
GCL New Energy to Acquire Three Solar Power Plants in China from GCL-Poly Energy 81
Con Edison Development Acquires Six Solar Power Plants in California, US from SolarReserve and GCL Solar Energy 82
Shanghai Miaochang Investment Management and Shanghai Zhongmin Yinfu Investment Management to Acquire Wafer Production Business from GCL-Poly Energy for USD961.4 Million 83
Jiangsu Golden Concord Energy to Acquire Wafer Production Business from GCL-Poly Energy for USD342.2 Million 84
GCL Solar Sells Two Solar PV Projects For US$50.5 Million In California, US 85
GCL Solar Energy Sells Solar PV Projects To ConEdison For US$266 Million In California, US 86
Shanghai Qichen Investment Management Completes Acquisition of GCL-Poly from Hank Rich for USD502.7 Million 87
Suzhou GCL New Energy Investment to Acquire Delingha Century Concord Photovoltaic Power from Yinhua Century Concord New Energy Investment for USD37.4 Million 88
Chengdong Investment To Sell Additional 7.75% Interest In GCL-Poly Energy For US$402.3 Million 89
GCL-Poly Energy Sells GCL Solar Energy For US$266 Million 91
