JIC Leasing recently provided RMB 250 million under a finance lease to Qi County GCL, a wholly owned subsidiary of HKSE-listed GCL New Energy Holdings. This investment will be made in equipment used by the company’s photovoltaic power stations.

As GCL-Poly Energy Holdings’ new energy arm, GCL New Energy Holdings first went public in Hong Kong in 2014. It was China’s first PV company to receive offshore construction loans on a credibly solvent, unsecured and revolving basis. With a focus on solar power, GCL New Energy Holdings has been engaged in the operation and maintenance of solar plants. The company also offers energy storage technology, micro-grids and intelligent integration capabilities. The lessee is a PV project of GCL New Energy Holdings in mainland China. It is planning to build a 100MW centralized photovoltaic power plant in Henan.

The PV power generation sector has been receiving a great deal of support from regulatory incentives. Given that new energy has been one of JIC Leasing’s key business lines, the company will seize the opportunities emerging from the rapid growth of the new energy industry and identify high-potential projects that can help secure new sources of profit growth.