GCL Energy loans subsidiaries funds for key investment projects

GCL Energy Technology (SZSE: 002015) announced it will allocate approximately RMB 144 million (USD 20 million) from its raised funds to its subsidiaries. This move aims to bolster the progress of key investment projects related to distributed photovoltaic power generation, novel energy storage, and combined heat and power initiatives. Subsidiaries receiving funds include Suzhou GCL XinGuang Smart Energy, Zhongshan XinNeng ZhiChu Energy Technology, and Nantong GCL Thermal Power. The loan terms include a maximum duration of three years, with interest rates aligned with the Loan Prime Rate (LPR). GCL Energy is also adjusting its fund management, opening new dedicated accounts and closing old ones linked to projects that are terminated or near completion. This strategic financial restructuring and reallocation of capital underscores GCL Energy's focus on optimizing resource utilization to accelerate project deployment and support sustainable growth across its diversified energy portfolio.