GCL New Energy Sells Solar Assets for $13.8 Million

GCL New Energy Holdings (HK:0451) has released an update.

GCL New Energy Holdings has announced the sale of its subsidiaries, owning eight solar photovoltaic facilities in North Carolina, to Wilson Solar for approximately US$13.8 million. This strategic disposal will see the financial results of these subsidiaries removed from GCL’s consolidated statements, as the company plans to reinvest the proceeds into developing clean energy services. The transaction, deemed a discloseable event, aligns with GCL’s focus on expanding its clean energy sector operations.

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