State Grid Corporation of China, which operates power grids across 26 provincial-level regions, announced that it plans to invest RMB 4 trillion in fixed assets for new-type power system construction during the 2026-2030 period, representing a 40% increase compared with the previous 5-year cycle.
During the same period, renewable capacity – primarily wind and solar – within State Grid’s operating regions is expected to grow by an average of around 200 GW per year. The expansion aims to raise the share of non-fossil energy consumption to 25% and increase the share of electricity in final energy consumption to 35%, supporting the initial establishment of a new-type energy system.
State Grid also stated that before 2030, it will further enhance system flexibility, optimize pumped-hydro storage deployment, support the large-scale development of new energy storage, and improve grid integration and consumption of renewables. The company will also support the development of zero-carbon factories and industrial parks, accommodate the connection of 35 million charging facilities, and further advance end-use electrification.
Trinasolar’s State Key Laboratory of PV Science and Technology announced that it has set a new world record power output of 886 W for a large-area 3.1 m² perovskite-crystalline silicon tandem module, while also achieving a major efficiency breakthrough in perovskite-p-type heterojunction (HJT) tandem cell research.
In April 2025, Trinasolar announced a ‘new world record’ power conversion efficiency of 31.1% for its self-developed perovskite-crystalline silicon 2-terminal tandem solar cell (see Record 31.1% Efficiency For Trinasolar’s Tandem Solar Cell).
Separately, Trinasolar has issued a loss warning for FY2025, stating that, based on preliminary calculations, it expects to record a net loss attributable to shareholders for the full year 2025, although no specific figures have yet been disclosed.
Perovskite PV company UtmoLight has partnered with the University of New South Wales (UNSW) to jointly establish an International Joint Perovskite Laboratory. The laboratory is supported by UtmoLight’s Global Innovation Center and features over 6,000 m² of laboratory space with a professional R&D team of more than 100 researchers. Through the joint lab, the 2 partners will conduct collaborative research on cutting-edge perovskite technologies, build a talent co-development and knowledge-sharing mechanism, and jointly promote the industrialization of perovskite PV technologies.
In November 2025, UtmoLight signed a strategic cooperation agreement with Wuxi Xingyuan Green Energy, with the partnership’s first project slated to be the largest single commercialized perovskite rooftop project to date (see China Solar PV News Snippets).
Polysilicon producer Daqo New Energy has released its 2025 earnings guidance, forecasting an adjusted net loss of RMB 1.05 billion to RMB 1.35 billion for the full year, compared with an adjusted net loss of RMB 2.63 billion in the previous year. This represents a loss reduction of 48.70% to 60.10% year-over-year (YoY). The company attributes this narrowing to a recovery in domestic polysilicon prices since the third quarter, along with lower production costs and improved operational efficiency.
However, Daqo also cautioned that the polysilicon industry continues to face challenges related to high inventory levels and weak demand. In November 2025, the company reported turning EBITDA-positive in Q3 2025 (see Daqo New Energy Improves Q3 2025 Revenues; Narrows Net Loss).
Leading solar and storage maker JinkoSolar announced that, based on preliminary calculations, the company expects to report a net loss for the full year 2025. The specific amounts will be disclosed in subsequent financial reports.
According to JinkoSolar’s Q3 2025 financial results, the company generated RMB 47.99 billion in revenue during the first 9 months, representing a 33.14% YoY decline. Over the same period, it recorded a net loss attributable to shareholders of RMB 3.92 billion, down 422.67% YoY.
JinkoSolar set a full-year 2025 module shipment target of 85-100 GW, of which 61.75 GW had already been shipped during the first 3 quarters.
Recently, JinkoSolar announced a strategic cooperation agreement with XtalPi to establish a joint venture focused on high-throughput R&D of perovskite tandem solar cells using AI technologies (see China Solar PV News Snippets).
