Chinese energy giant GCL Group has entered into strategic pact with Adani Enterprises to cooperate in energy sector, including setting up an industrial park with a complete photo-voltaic industry chain in Gujarat.
"Golden Concord Holdings Limited (GCL)...Has announced that GCL Group has signed a strategic collaborative agreement with Indian Adani Enterprises, aiming to carry out large-scale cooperation in India's green energy sector, petroleum logistics and photovoltaic industry," the company said in a statement today.
The agreement envisages setting up of an industrial park with a complete photovoltaic (PV) industry chain in Mundra, Gujarat and an ecological health of The Habitat garden is also in the proposed plan, it said.
The pact was signed during Prime Minister Narendra Modi's visit to China in June, it added.
GCL Group Chairman Zhu Gongshan said, "Our agreement with Adani group has been going on very smoothly. We will also keep the market informed what we achieve from this strategic collaboration. We are very optimistic about Indian energy market's outlook and are determined to provide better products and services to the market along with our Indian partners."
GCL is an integrated energy group that specialises in clean and new energy. GCL is China's largest non-state-owned green energy holdings company and the world's largest photovoltaic material manufacturer.
It has established presence in four major industries -- power, photovoltaic, natural gas and finance.
