Phono Solar and GCL partner to expand China’s domestic power plant market


Phono Solar, one of the world’s largest producers of quality monocrystalline and polycrystalline silicon solar modules, and Golden Concord Holdings Limited, have signed a strategic partnership to cooperate in terms of supply and industrial chains as well as photovoltaic plants. The agreement was signed on the 18th May and aims to give a clear signal to the industry.

Cai Jibo, President of Phono Solar, said: “These are hard times in the market and we need to pull through together. The PV market is large enough to allow for cooperation. In this current climate even the largest companies should look beyond traditional business practice and move towards a position of cooperation above competition. Partnerships which aim to share industrial resources will mutually benefit manufacturers and play a positive role in promoting the sustainable and healthy development of the renewable energy industry in China.”

Zhu Gongshan, President of GCL, said: “The partnership of two strong enterprises at this time is very important strategically. Recent events, including the release of the US Commerce Department’s preliminary decision on imposing tariffs, will cause the industry suffer a setback in terms of development, but challenges also offer new opportunities. Photovoltaic manufacturers are looking to push forward by improving panel efficiency and reducing costs through technological innovation, while advancing management through the reconstruction of business models.”

Cai Jibo detailed other recent Phono Solar partnerships, including Suntech, signed earlier in May: “Both our cooperation with GCL and our recent cooperation with Suntech aim to further develop photovoltaic plant projects in China. As a subsidiary of the state-owned enterprise China Machinery Industry Corporation (SINOMACH), Phono Solar enjoys a unique position in the industry, allowing quick expansion in its home market through state financing, and more accessible expansions into overseas markets through its positioning as one of the Top-500 enterprises in the world. SINOMACH’s 30 years of trade experience give strength to cope with market changes, and in last year’s difficult economic circumstances, in which industry leaders experienced losses ranging from $500m to $1 billion, Phono Solar produced a profit.”