GCL New Energy Signs PPA for 110MW Solar Project In Colorado

Through the Pioneer project, GCL New Energy will gain valuable experience developing a U.S. greenfield project, and can create a development model for future projects. The process includes land lock-up, an on-grid feasibility study, negotiating and signing a grid connection agreement, securing land permits, and PPA negotiation and signing.

Through the Pioneer project, GCL New Energy will gain valuable experience developing a U.S. greenfield project, and can create a development model for future projects. The process includes land lock-up, an on-grid feasibility study, negotiating and signing a grid connection agreement, securing land permits, and PPA negotiation and signing.

By controlling development costs and altering its PPA negotiation strategy to adapt to fast-changing circumstances, GCL New Energy beat all well-known, established American developers to secure the agreement.

GCL New Energy has shifted its development strategy from focusing solely on the Chinese market to aggressively expanding in both the Chinese and overseas markets, and has been stepping up its capacity in overseas solar farm development. GCL New Energy has three regional headquarters in North America, Japan, and Africa. In 2017, it launched "Overseas Seeding Initiative" in key overseas target markets.

GCL New Energy is also pushing forward with its global goal of realizing 3GW+  of solar projects by 2020, and actively seeking strategic partners. It is exploring domestic and international markets with partners such as Power China, CEEC, CGGC, and Shanghai Electric, and has built close ties with internationally renowned companies such as Mitsui, Marubeni, Softbank, ACWA, Masdar, KEPCO and Macquarie.

About GCL New Energy, Inc.

GCL New Energy, Inc. is the wholly-owned international renewable energy IPP subsidiary of GCL New Energy Holdings Ltd (0451.HK) with offices in San Ramon, California. The company focuses on developing, owning and operating utility scale solar projects, and has experience in the United States, Puerto Rico, Latin America, and numerous other international markets.