GCL-SI Named Tier 1 PV Manufacturer by Bloomberg New Energy Finance

SUZHOU, China, Sept. 2, 2016 /CNW/ -- GCL System Integration Technology (GCL-SI), (SHE: 002506), a subsidiary of the world's leading energy group GCL, has been named in the Tier 1 list of Bloomberg New Energy Finance's (BNEF), ranking of photovoltaic (PV) module manufacturers. On the list,  GCL-SI is ranked No. 2 based on its annual solar module capacity.

BNEF's tiering system categorizes hundreds of solar module manufacturers into three tiers based on bankability -- the ability of solar product-related projects to acquire non-recourse debt financing from banks.

Tier 1 manufacturers have to prove they are able to provide own-brand, self-made products to five different projects that are non-recourse financed by five different (non-development) banks. BNEF also only considers projects that have over 1.5 MW capacity.

Featuring on BNEF's tiering system demonstrates that GCL-SI fulfills all its criteria.

Mr. Shu Hua, president of GCL-SI, said, "GCL-SI has grown quickly since its establishment. In less than a year, we have developed international projects that reach BNEF standards. It is a rare case in the solar industry."

The "Tier 1" list has been widely used in manufacturing forecasts and preliminary competitor analysis as an important method to distinguish the major, bankable suppliers in the PV industry. It is reviewed and updated every quarter with new information added to BNEF's database.

"With GCL-SI on the Tier 1 list, it signifies our ability to secure debt financing from banks and to provide quality PV module products," added Mr. Shu. "It will also bring our company more opportunities to explore the market and allow us to contribute more to global green energy."

About GCL-SI

GCL System Integration Technology Co., Ltd. (002506 Shenzhen Stock) (GCL-SI), is part of the GOLDEN CONCORD Group (GCL), an international energy company specializing in clean and sustainable power production, founded in 1990. With global assets worth nearly USD16 billion, the combined companies delivered over 2 GW of modules globally in 2015, and currently supply more than 30% of  all polysilicon and wafers utilized in the solar industry.

SOURCE GCL System

Joyce Gu, [phone], [email protected]