GCL New Energy hires EPC co for 100 MW of Henan PV plants
Solar panels. Featured Image: Jackiso/Shutterstock.com
Solar-focused firm GCL New Energy Holdings Ltd (HKG:0451) said Thursday it has selected the engineering, procurement and construction (EPC) contractor for two Chinese photovoltaic (PV) schemes totalling 100 MW.
The company chose local firm Dalian Qinneng Power Engineering Design Co Ltd to construct the two solar farms, which are located in Henan province’s counties of Qi and Ruyang. The combined value of the separate agreements amounts to roughly CNY 672 million (USD 105.4m/EUR 93.4m).
Dalian Qinneng will receive CNY 335 million for its work on each of the projects. It may also be given additional bonus payments of CNY 1 million if the facilities meet the grid-connection conditions within the expected timeframe, according to the statement.
GCL New Energy started as a printed circuit boards maker and is now involved in the downstream renewable energy field with a focus on solar power. At present, it has over 776 MW of solar farms in various stages of development and construction, as well as 17 grid-connected facilities with a combined capacity of 645.3 MW.