Indosolar Plans $2B Solar Deal With GCL

Indian solar photo-voltaic cell makerIndosolaris in discussions with Chinese polysilicon maker保利协鑫能源控股for $2 billion solar deal,Reutersreports. Indosolar already has a wafer supply contract with GCL worth $565 million, which was expected to run till 2014. Indosolar is now planning to close that contract.

Indosolar is also seeking to get into manufacturing of solar modules to meet the growing demand in the solar power market in India, pegged at $70 billion. The company has lined up a consortium of lenders led byUnion Bank of Indiafor loans of approximately $8.37 billion for the development.

Click here for the story fromReuters.