GCL-Poly Energy and Wells Fargo have announced a joint program through which Wells Fargo will invest over $100m by the end of 2011 to fund the development of solar photovoltaic power projects throughout the US by GCL-Poly subsidiary GCL Solar Energy.

Financing provided by Wells Fargo is expected to enable GCL Solar to cost-effectively provide a clean and reliable source of electricity to its customers, including schools, municipalities, corporations and utilities.

GCL Solar will build and operate solar power plants, and its customers will purchase the electricity under long-term power purchase agreements at rates equal to or lower than traditional utility rates.

San Francisco-based GCL Solar builds, owns and operates solar photovoltaic power plants.