PVTIME – On 31 December 2024, GCL New Energy Holdings Ltd. (00451.HK) announced that its indirect wholly-owned subsidiary has entered into a sale and purchase agreement with Wilson Solar, pursuant to which GCL New Energy will sell to Wilson Solar the sale membership interests in the target companies with PV solar power plants in the US for a consideration of approximately HK$107 million.
Upon completion of the transaction, the Target Companies, which have eight PV solar power plants with a total installed capacity of approximately 83MW, will cease to be subsidiaries of GCL and the profits and losses, assets and liabilities of the Target Companies will cease to be consolidated in the financial statements of the GCL Group.
GCL New Energy is an investment holding company engaged in the development, construction and operation of solar power plants. GCL New Energy focuses on both centralised and distributed PV power plants to provide sustainable energy that is clean, safe and efficient.
According to the announcement, GCL New Energy has continued to promote the transformation of its asset-light model in line with its development goal of transformation and upgrading. The Disposal will alleviate the GCL Group’s additional costs in managing the solar photovoltaic power generation projects and provide a good opportunity for the Group to revitalise its assets. In addition, the Disposal will enable GCL to optimise the allocation of its resources and increase its liquidity to further develop its operations and management services in the photovoltaic and other clean energy sectors.
Scan the QR code to follow PVTIME official account on Wechat for latest news on PV+ES
 announced that its indirect wholly-owned subsidiary has entered into a sale and purchase agreement with Wilson Solar, pursuant…){kind=link}