China Solar PV News Snippets: SPIC Releases PV & Storage Field Test Results & More

Huadian to raise $2.5B for 15.17 GW projects; Akcome fined $5.86M for violations, chairman banned; Sineng lab earns CGC certification; April solar cell output up 33% YoY to 71.93 GW.
SPIC releases 2024 PV & storage field test report
Recent field test results from SPIC showed IBC and TOPCon modules outperform PERC modules by 4.77% and 4.37%, respectively.(Photo Credit: SPIC Solar)
Published on

SPIC releases 2024 PV & storage field test report

China’s State Power Investment Corporation (SPIC) has published the 2024 results from its National Photovoltaic and Energy Storage Field Testing Platform located in Daqing, Heilongjiang Province, operational since late 2021. The report provides systematic comparisons across 7 categories: meteorological conditions, modules, inverters, mounting structures, storage systems, PV systems, and PV+storage systems. Some of the highlights from the report are listed below:

  • In the module performance comparison (Phase II), tested modules included: dual-glass modules with 120 half-cut 166 mm PERC cells (reference), dual-glass modules with 132 half-cut 166 mm IBC cells, and modules with 144 half-cut 166mm TOPCon cells. During the July to December 2024 period, the IBC and TOPCon modules outperformed the PERC reference by 4.77% and 4.37% in energy yield per unit area, respectively.

  • Mounting structure performance from 2022 to 2024 showed dual-axis trackers had the highest average yield, followed by vertical single-axis, 25° inclined single-axis, 10° flat single-axis, 15° inclined single-axis, and omnidirectional tracking systems. Compared to fixed 45° tilt structures, the 3-year average yield increases were 24.58%, 19.14%, 17.65%, 15.90%, 12.28%, and 12.21%, respectively.

  • Among storage systems (Phase I results), 1C LFP cells showed a cell efficiency >94% and a system efficiency (incl. auxiliary consumption) of >74%; 0.5C LFP cells had a cell efficiency of >95% and system efficiency of >77%; ternary lithium cells showed a cell efficiency of >94% and a system efficiency of >66%.

Huadian to raise RMB 18 billion for over 15 GW of projects

Huadian New Energy, the renewable energy arm of one of the largest power developers in China, China Huadian, has received approval from the securities regulator for its IPO on the main board of Shanghai Stock Exchange. It aims to raise RMB 18 billion ($2.50 billion) to fund the development of 15.17 GW of power projects, including: 5.25 GW of utility-scale wind and solar projects, 3.63 GW of local load-matching projects, 3.05 GW of projects aligned with new power system integration, and 3.24 GW for green ecological synergy developments.

For FY2024, the company reported a revenue of RMB 33.968 billion ($4.71 billion), up 14.83% YoY, and net profit attributable to shareholders of RMB 8.831 billion($1.22 billion), down 8.2% YoY.

In March, China Huaneng announced plans to develop a 2.7 GW wind-solar-coal-storage multi-energy project in Inner Mongolia (see China Solar PV News Snippets).

Akcome fined for major violations

Heterojunction (HJT) cell and module manufacturer Akcome has received a pre-penalty notice from the Zhejiang Bureau of the China Securities Regulatory Commission for serious disclosure violations from 2019 to 2024. The company and 11 executives face total fines exceeding RMB 42.25 million ($5.86 million).

Akcome Chairman Chenghui Zou has been fined RMB 16 million ($2.22 million) and banned for life from securities markets due to massive misuse of company funds exceeding RMB 660 million ($91.51 million), undisclosed related-party guarantees, inflated profits, unregulated transactions with related individuals, and opaque financial flows in supply chain finance. Reportedly, the company also repeatedly published misleading operational information in 2024.

Akcome was delisted in August 2024 after its share price stayed below RMB 1 ($0.139 ) for 20 consecutive trading days (see China Solar PV News Snippets).

Sineng’s testing center certified as manufacturer testing lab
Sineng Electric's Wuxi Testing Center has been certified as a Manufacturer Testing Laboratory by the China General Certification Center.(Photo Credit: Sineng Electric)

Sineng’s testing center certified as manufacturer testing lab

Sineng Electric's Wuxi Testing Center has been certified as a Manufacturer Testing Laboratory by the China General Certification Center (CGC). The center focuses on environmental adaptability and service life verification for PV inverters, storage converters, and digital power products, covering the full product lifecycle. It is also accredited by the China National Accreditation Service (CNAS).

China’s large solar cell manufacturer output grows 33% YoY in April

According to China’s National Bureau of Statistics, solar cell output from large industrial enterprises with annual revenues ≥ RMB 20 million reached 71.93 GW in April 2025, up 33.4% year-over-year. Cumulative output from January to April 2025 totaled 239.06 GW, up 18.8% YoY.

Power generation from large-scale industry was 2.984 trillion kWh over the same 4 months, mostly flat YoY. Among renewables, solar power generation for the period was 159.5 billion kWh, up 19.5% (6.69% of total generation); and wind power generation was 381.4 billion kWh, up 10.9% (12.78% of total).

Related Stories

No stories found.
logo
TaiyangNews - All About Solar Power
taiyangnews.info