Chinese PV Industry Brief: New PV hit 36.72 GW in January-February period

The NEA said that PV installations surged in January and February to 36.72 GW, up 80% year on year. China's cumulative solar capacity reached 646.2 GW at the end of February. The nation added 216.88 GW of new PV capacity in 2023, up 148.12% from 2022. In 2022, the country added 87.41 GW of solar.

DMEGC has outlined its PV shipment projections for 2024, with more than 2 GW expected to be shipped in the first quarter and around 6 GW in the first half. The company is targeting total shipments of 15 GW for the year, with 70% designated for international markets and 30% for domestic sales. It said it also plans to ramp up its production capacity by 8 GW for TOPCon cells and 5 GW for modules, in order to cater to both domestic and overseas demand.

Golden Solar New Energy said it expects a net loss of between CNY 320 million ($44.3 million) and CNY 340 million for 2023. It said it expects sales of CNY 295 million for the year, up 8% from 2022, driven by a 13% increase in PV product sales, particularly due to heterojunction demand in Europe. The company released new heterojunction back contact (HBC) solar cells in the fourth quarter.