http://www.newenergyworldnetwork.com/renewable-energy-news/china%e2%80%99s-gcl-finds-opening-in-us-solar-market.html

Solar Reserve, a US-based solar park developer, has teamed up with Chinese company GCL through its US subsidiary company to engage their joint photovoltaic expertise.

Solar Reserve needed to find a solar technology producer that could handle large scale work, as its current pipeline of projects will amount to over 1.1GW of power capacity in the long-term, with 400MW in the next few years alone.
For Hunter Jaing, chairman of GCL Solar Energy, the deal marks a significant market entry point for GCL.
‘We are delighted to be embarking on this important joint venture with Solar Reserve, GCL will bring expertise in photovoltaic technology and EPC experience which, coupled with Solar Reserve’s development experience, establishes a company that will deliver viable, cost effective projects for our utility customers,’ said Jaing.
This project development is so large that GCL, has taken a 50 per cent joint venture stake in this portfolio of 40 different projects that are currently being proposed.
The developments will range between 5MW to 20MW.
GCL has a stated ambition to grow its business in US solar sector and this ambition has been recognised by US investment bank Wells Fargo, which provided $100m in financing.
Solar Reserve, is demonstrating where the momentum lies in the US photovoltaic market and to put its scale in perspective, the UK has a capacity of around 70GW of capacity.
The solar market remains one of the choice picks for the renewable market especially in California with its abundance of sunlight. It is no surprise to see that Solar Reserve is backed by private equity company US Renewables Group.
A statement by its parent company, GCL Poly-Energy Holdings, shows just how tight margins are, however.
GCL Poly-Energy Holdings announced revenue of more than RMB4bn (602.3m) in 2009 but cost of sales took the profit down to RMB647m.