JinKO Energy Storage (Jinko ESS) has announced that it has once again secured a spot on BloombergNEF’s (BNEF) Tier 1 Energy Storage Provider List for Q1 2025. The company said that this achievement reaffirms its strong technological capabilities, financial stability, and project execution expertise. Jinko ESS stated that it continues to expand its offerings, including the advanced SunTera 5 MWh system, which features high-capacity lithium iron phosphate (LFP) batteries, liquid cooling, and multi-layer fire protection for enhanced safety and efficiency.
Jinko ESS recently secured its maiden contract in India to install its SunTera G2 5 MWh systems for India’s textile industry (see India Solar PV News Snippets).
SPIC New Energy, a subsidiary of SPIC, has started construction on a 10 GW copper grid heterojunction (HJT) solar cell and module project. Located in Suining City, Jiangxi Province, the company is investing a total of RMB 8 billion ($1.10 billion) in the facility. To be developed in 2 phases, the first phase of the plant is currently under construction, at an investment of around RMB 5 billion ($689.66 million). The first production lines are expected to start operations in October 2025.
SPIC New Energy states that its independently developed copper grid HJT (C-HJT) technology replaces costly silver with copper as the grid line material. The company claims it has successfully increased the efficiency of C-HJT cells to 26.49% and has previously built and tested a 300 MW pilot production line for mass production.
Last month, SPIC received NEA approval for the construction of the National Photovoltaic and Energy Storage Demonstration Platform (Warm Temperate Zone) in Henan Province (see China Solar PV News Snippets).
Perovskite manufacturer Keneng New Energy has held a signing and groundbreaking ceremony for its new GW-scale perovskite module project. The company plans to invest over RMB 1 billion ($137.93 million) to establish this facility in Hangzhou, Zhejiang Province.
In December 2024, Keneng New Energy announced the commissioning of its 100 MW perovskite module project. This smart production line supports both tandem and flexible (cell-to-cell) module manufacturing and has successfully rolled out its first perovskite module with dimensions of 1200 × 650mm.
Keneng New Energy is a subsidiary of Kelin Electric, a manufacturer of power distribution and substation equipment. In 2024, Kelin Electric also completed the construction and grid connection of a 100 MW electrochemical energy storage power station through another subsidiary, Kolin New Energy.
Solar paste manufacturer T-SUN New Energy has withdrawn its IPO application from the Beijing Stock Exchange. The company was listed on China’s New Third Board in 2016 and submitted an IPO application to the Beijing Stock Exchange in 2023, aiming to raise RMB 210 million ($28.97 million) for use in the construction of a solar conductive paste production facility, an R&D center, and working capital.
In 2023, T-SUN New Energy had an annual production capacity of 354.94 tons for silver paste and 2,834.55 tons for aluminum paste. According to the company’s report, in the first half of 2024, it achieved revenue of RMB 565.00 million ($77.93 million), down 26.78% year-on-year, with a net profit attributable to shareholders of RMB 15.55 million ($2.14 million), a year-on-year decline of 56.08%.
Recently, PV energy storage system and inverter manufacturer SOFAR submitted its IPO registration to the ChiNext board of the Shenzhen Stock Exchange (see China Solar PV News Snippets).
5 Companies win 2.5 GW TOPCon module tender
China Three Gorges Corporation has announced the list of shortlisted candidates for the second batch of its 2024 centralized procurement framework for solar modules. This tender involves 2.5 GW of TOPCon modules, requiring a minimum power rating of 580 Wp.
5 companies have been selected as winning bidders, with their quoted prices per watt as follows:
DAS Solar: RMB 0.692/W ($0.0954/W)
Tongwei Solar: RMB 0.699/W ($0.0964/W)
Astronergy: RMB 0.694/W ($0.0957/W)
LONGi: RMB 0.705/W ($0.0972/W)
Risen Energy: RMB 0.692/W ($0.0954/W)
According to data from Antaike, a nonferrous metal industry consulting firm, China saw its first inventory reduction in polysilicon since last year in January 2025. The total polysilicon supply (including imports) was 99,500 tons, while demand (including exports) reached 101,900 tons. By the end of January, the country’s total polysilicon inventory stood at around 397,000 tons. In February 2025, polysilicon production is expected to reach 94,000 tons, while wafer manufacturers' estimated demand for polysilicon is around 100,000 tons, indicating that demand remains slightly higher than supply.
In February, the actual wafer supply reached 44.71 GW. In January, cell production totaled 42 GW, a month-on-month decrease of 8.7%. Wafer exports for January were approximately 3GW, with an apparent wafer demand of around 45.42 GW. February's wafer production is expected to be around 44 GW, slightly lower than in January.