GCL enters another expensive sale-and-leaseback deal

The heavily indebted poly manufacturer and project developer will receive an immediate $50 million fillip from the sale of an 80 MW solar project but will then have to pay back $76 million over ten years.The project development business of Chinese polysilicon power GCL-Poly has been forced into another eye-wateringly expensive sale and leaseback agreement as it continues to squeeze its PV assets to fund its parent's production expansion plans. GCL New Energy Holdings Ltd today announced it had signed a ten-year lease with Kangfu International Leasing related to an 80 MW generation capacity solar ...

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