A subsidiary of China’s Golden Concord Holdings Limited (GCL), GCL Optoelectronics Technology Holdings Co., Ltd. has achieved closure on a new financing round to enable it to expand its pilot perovskite solar module production to the mass production level.

According to a news by Cathay Communications and reported by Polaris Solar Photovoltaic Network, the company has announced raising more than RMB 100 million ($15.36 million) for a 100 MW mass production line for these modules.

The company already has a 10 MW pilot production line for these modules, and in October 2019 said it had started construction of a 100 MW mass production line. Back then GCL Optoelectronics said the efficiency of its perovskite module has been further improved to 16.4%, gaining from 13.48% that was certified by TUV Rheinland.

GCL aims to develop large scale 1m x 2m mass production capacity of perovskite solar modules, while targeting solar cell cost reduction and promoting commercialization of perovskite cells.

Compared to conventionally used crystalline silicon to produce solar cells, perovskite is supposed to become the ‘mainstream PV technology with the highest efficiency and lower cost’, according to GCL.

In December 2020, Oxford PV reached 29.52% power conversion efficiency of perovskite-silicon tandem solar cell (see Oxford PV Claims 29.52% Perovskite Solar Cell Efficiency). The British company is building a 250 MW perovskite-silicon tandem factory in Germany (see Brandenburg Commits €8.8 Million For Oxford PV Expansion).