Chinese PV Industry Brief: Polysilicon price exceeds $40/kg, another 5 GW of cell capacity comes online


The China Nonferrous Metals Industry Association reports that the price of polysilicon reached this week CNY 270 ($40.39)/kg — the highest level since 2011. The weekly average price was CNY 267/kg. The price hike is due to both difficult silicon metal supply and increasing market demand from the downstream business.

Module manufacturer Longi commissioned a 5 GW solar cell factory in Ningxia Province. The manufacturing facility represents the first phase of a 10 GW project that the company is implementing at the site. Overall, Longi is investing CNY 6.6 billion in the new factory, which is expected to become fully operational by October 2023.

Wafer manufacturer Gokin Solar announced it signed an agreement with the government of Yibin City, Sichuan Province, for the construction of a monocrystalline ingot factory with a capacity of 50 GW. The CNY 22 billion manufacturing facility is also expected to host 30 GW of wafer capacity and to be fully operational by the end of 2023.

PV production equipment manufacturer Jinchen said on Monday it would provide India's Adani Solar with 2 GW solar panel production lines. According to Jinchen, this is the second major contract between the two companies since 2021.

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Photovoltaic panel glassmaker Xinyi Solar last week revealed it experienced a significant shareholder revolt at its AGM. The holders of more than 37% of stock in the company voted against the proposal to give the board a general mandate to issue shares. The holders of more than 27% of shares in the Xinyi Glass manufacturing business, whose major investors also control Xinyi Solar, voted against the same measure for their own company.

IDG Energy Investment Ltd last week announced the production of its first solar cell wet processing equipment as part of a two-unit order for an undisclosed customer.

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