Solar PV panel manufacturer JA Solar has announced that it has delivered 1 GW of high-performance n-type solar modules for the Ulan Buh Desert Northeast New Energy Base pilot, a key part of a 12 GW wind and solar power hub in China. The company said it took only 180 days to deliver the entire capacity, with peak monthly deliveries surpassing 400 MW and over 80 daily truckloads during its busiest phase. JA Solar says the pilot plant, which serves as a critical milestone for the broader Ulan Buh Desert initiative, showcases its capacity to handle complex, high-profile projects.
JA Solar recently unveiled its DeepBlue 5.0 module, powered by its Bycium+ 5.0 cell technology (see China Solar PV News Snippets).
Drinda Corporation, the parent company of JTPV, has forecast an FY2024 net loss of RMB 550 million ($75.48 million) to RMB 650 million ($89.20 million), compared to a net profit of RMB 815.64 million ($111.94 million) in 2023. The company attributed the loss to a mismatch in PV industry supply and demand, leading to declining product prices. Drinda says it achieved 33.74 GW of solar cell shipments in 2024, with over 90% being n-type cells. Overseas sales accounted for 23.94% of total revenue, a significant increase from 4.69% in 2023.
In December 2024, JTPV announced that its TOPCon/perovskite tandem solar cells achieved a certified conversion efficiency of 31.0% (see China Solar PV News Snippets).
Chinese lithium miner and battery manufacturer Ganfeng Lithium has announced that its subsidiary, Ganfeng LiEnergy, will invest RMB 200 million ($27.46 million) to establish the Loteng (Hangzhou) Equity Investment Partnership in collaboration with a professional investment institution.
The RMB 2 billion ($274.46 million) fund will focus on renewable energy investments, including C&I solar, ground-mounted distributed solar, and centralized wind power projects. Through this collaboration, Ganfeng aims to leverage the investment platform to integrate its lithium battery storage business with the broader renewable energy industry and accelerate its expansion into overseas energy storage markets.
Solar encapsulation solution provider HIUV New Material has projected a net loss of RMB 480 million ($65.87 million) to RMB 580 million ($79.60 million) for FY2024. This is more than double the RMB 228.57 million ($31.37 million) loss it reported in 2023. The company attributed the worsening losses to intense competition in the PV encapsulant market, which compressed profit margins. Additional factors included increased depreciation and amortization costs from capacity expansion, as well as higher provisions for inventory and asset impairments.
HIUV’s competitor Cybrid Technologies also recently forecast a 2024 net loss attributable to shareholders of RMB 2 billion ($281.5 million) to 2.5 billion ($351.9 million) (see China Solar PV News Snippets).
China’s National Energy Administration (NEA) has reported that the country added 120 GW of distributed solar PV capacity in 2024, representing 43% of the total new solar installations for the year.
Distributed solar generation reached 346.2 billion kWh in 2024, accounting for 41% of total solar output. By the end of 2024, cumulative distributed solar capacity in China had reached 370 GW, a 121-fold increase compared to 2013, representing 42% of the nation’s total solar capacity.
According to NEA, China issued 4.734 billion green certificates in 2024, marking a 28.4-fold increase year-on-year (YoY). Split into its constituents, wind power accounted for 1.941 billion certificates, solar power 827 million, conventional hydropower 1.578 billion, biomass power 381 million, and other renewables 8.09 million. As of December 2024, China had issued 4.955 billion green certificates in total.
In terms of trading, 446 million green certificates changed hands in 2024, a 3.6-fold YoY increase. 239 million of these were for wind power, 202 million for solar power, 3.59 million for biomass, and 2.06 million for other renewables. By the end of 2024, the cumulative trading of green certificates in China reached 553 million.
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