Golden Concord Holdings (GCL Group) – the world’s largest supplier of polysilicon for solar panels – plans to expand into China’s oil and gas sector, as overcapacity and a collapse in global prices drive Chinese solar firms to seek new revenue streams, financial news portal Yicai.com has reported, citing unnamed company sources.
GCL Group will diversify into upstream gas production and will prioritise conventional natural gas, tight gas and shale gas, according to the report.
GCL Group has no experience in the high-risk upstream segment, which is dominated by...
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