Chinese PV Industry Brief: China’s cumulative PV capacity tops 660 GW

China's NEA said the nation's cumulative installed PV capacity reached 660 GW at the end of March. In the first three months of this year, the country added 45.74 GW of new PV systems, with 9.02 GW deployed in March alone. By comparison, China deployed just 33.66 GW of new PV capacity in the first quarter of 2023.

DKEM has responded to recent investor queries by stating that its photovoltaic conductive silver paste business achieved sales of 1713.62 tons in 2023. Shipments of conductive silver paste products in n-type TOPCon cells reached 1008.48 tons, positioning the company as the industry's first TOPCon paste seller to surpass 1,000 tons. The silver paste manufacturer said that with the rapid growth of n-type TOPCon cells, its business is still undergoing a phase of rapid expansion.

Boviet Solar, a wholly owned subsidiary of Ningbo-based Boway Alloy, said it will increase the capacity of its TOPCon solar cell factory project in the United States from 2 GW to 4 GW. Previously, Boway Alloy planned to invest in a 3 GW TOPCon solar cell expansion project in Vietnam and a 2 GW factory in the United States, with an estimated total investment of CNY 1.9 billion ($262 million). Following the additional construction of the US solar cell factor, the investment amount is set to increase to CNY 3.15 billion.

Cybrid Technologies has reported sales of CNY 4.16 billion for the full year to Dec. 31, 2023, up from CNY 4.11 billion a year earlier. Its profit attributable to the owners of the company was CNY 103.61 million in 2023, compared to CNY 171.25 million a year ago. The company said it expanded its business to target Europe, America, and Southeast Asia last year, with a focus on PV materials and related industries. It said it has 70 foreign customers throughout the world, including Adani, Tata Solar, Tesla, Pekintas, and Vsun.

GCL New Energy Holdings has reported a CNY 1.166 billion loss attributable to the owners of the company for the year to Dec. 31, 2023, from a loss of CNY 1.493 billion in the preceding year. Its annual revenue fell to CNY 831.5 million, down from CNY 929.1 million a year earlier. It attributed the decline in revenue to the disposal of solar plants in 2022 and 2023. In a message from the board, the company said it plans to pursue a “solar-plus-natural-gas strategy” and maintain its asset-light approach.