Chinese PV Industry Brief: January-October PV installations hit 142.5 GW

China’s NEA said the nation’s cumulative installed PV capacity reached 540 GW at the end of October. In the first 10 months of this year, the country added 142.5 GW of new PV systems, with 13.62 GW deployed in October alone. New solar power installations hit 78.42 GW in China at the end of June.

State Power Investment Corp. (SPIC) has kicked off the construction of a 1,000 MW ground-mounted solar farm in Hotan, in China’s Xinjiang region. The project will include 100 MW/200 MWh of energy storage and a 220 kV convergent booster station. It will be implemented in three phases across 16.7 square kilometers. The total investment is about CNY 3.85 billion ($541.2 million).

TSUN has raised CNY 150 million in venture capital to expand its manufacturing capacity and core product development. The four-year-old company is expanding internationally with a range of microinverters for the 300 W to 3,000 W power range, as well as a balcony applications.

Yingkou Jinchen Machinery, a PV manufacturing equipment supplier, said it generated CNY 1.73 billion in revenue in the first nine months of this year, up from CNY 1.45 billion for the same period in 2022. Net profit was CNY 74.61 million, up from CNY 54.97 million a year earlier.

Trina Solar said it has signed a memorandum of understanding with Marubeni Australia and to supply 1.5 GW of its Vertex N modules in the Oceania region.