World's Largest Solar Wafer Maker GCL Poly Set to Grow Even Bigger

China based GCL Poly is the biggest solar wafer producer in the world wresting the crown from LDK Solar in 2010.GCL Poly is now set to grow even bigger in 2011 raising its wafer capacity almost 85% making it No.1 by far.Note solar wafers are made up of polysilicon and  used as raw materials for making solar cells which generate electricity from the sun.They are very similar to semiconductor wafers which are used to make the basic building blocks for electronics.GCL Poly has seen a massive rise from 2010 when it started to producer solar wafers.The company’s strategy of setting up plants near its major customers have landed it major deals and lower the cost in the supply chain.

The company also produces polysilicon which forms almost 50% of the cost of making wafers.The company also plans to triple the capacity of making polysilcion which will make it No.1 and 2 in the world.Asian producers of Solar Panels are dominating Solar Industry with 80-85% of the Solar Panels being producer in the region.Strong government support and subsidies have made South Koreans,Chinese and Taiwanese the leading solar players in the world.

GCL-Poly says to invest $2.3 bln to expand capacity

GCL-Poly Energy Holdings Ltd (3800.HK: Quote) said it planned to invest aboutHK$17.7 billion ($2.28 billion) to further expand its polysilicon capacity and wafer business.In a filing with the Hong Kong bourse over the weekend, GCL said it would expand its polysilicon and wafer facilities in China in 2011 and 2012, aiming to increase annual polysilicon production capacity to about 25,000 tonnes by the end of 2011 and 65,000 tonnes by mid-2012, from 21,000 tonnes as of the end of last year.It also aims to raise annual wafer production capacity to 6,500 megawatts (MW) by the end of 2011, from 3,500 MW at the end of 2010.