Bloomberg News

GCL-Poly Sells California Solar Farms for $266 Million

July 26, 2012

GCL-Poly Energy Holdings Ltd. (3800), the world’s biggest maker of polysilicon, sold a solar-power development unit to an unidentified U.S. buyer for $266 million.

GCL-Poly expects to record a $16 million (HK$124 million) pretax gain on the sale, which closed yesterday, the Hong Kong- based company said today in a statement.

The development unit is building two solar farms in California that have total capacity of 92 megawatts and are expected to be complete this year. The buyer is a New York-based renewable-energy developer, according to the statement.

To contact the reporter on this story: Christopher Martin in New York at cmartin11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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