China installed 59.71 GW of new solar in the first quarter of 2025, with 20.24 GW in March alone. National power generation capacity reached 3.43 TW, with solar accounting for 950 GW of the total.
China’s National Energy Administration (NEA) said the country installed 59.71 GW of new solar capacity in the first quarter of 2025. March alone accounted for 20.24 GW – more than double the figure from a year earlier, representing a 124% year-on-year increase. National power generation capacity reached 3.43 TW by the end of March, up 14.6% from a year earlier, with solar at 950 GW, up 43.4%, and wind at 540 GW, up 17.2%. Investment in power generation projects by major state-owned enterprises slipped 2.5% year on year to CNY 132.2 billion ($18.1 billion), while grid infrastructure investment jumped 24.8% to CNY 95.6 billion.
The China Nonferrous Metals Industry Association (CNMIA) said polysilicon prices remained stable this week, with top-tier producers offering material at CNY 40/kg to CNY 42/kg and lower-tier suppliers pricing at CNY 39/kg to CNY 40/kg. Granular silicon ranged from CNY 37/kg to CNY 39/kg. With wafer demand weakening, price inquiries from downstream customers have started to shift toward the lower end. Wafer prices declined sharply, dragged down by falling cell prices and weak sentiment. Mainstream transaction prices dropped to CNY 1.20 per piece for 183N wafers, CNY 1.45 for 210RN, and CNY 1.55 for 210N. P-type M10 wafers traded at CNY 1.05–1.15 domestically and CNY 1.20–1.25 for export. Cell prices also fell, with 182P cells averaging CNY 0.27/W to CNY 0.29/W, and 183N and 210RN cells down to CNY 0.30 and CNY 0.29. Further n-type cell price declines are expected through late April, with stabilization unlikely before May or June. Module prices, which briefly peaked at CNY 0.78/W to CNY 0.80/W in early April, have started to fall. Utility-scale project pricing now ranges from CNY 0.67/W to CNY 0.71/W, while distributed project prices average CNY 0.72/W to CNY 0.75/W. Overseas prices remain relatively steady, with tunnel oxide passivated contact (TOPCon) modules at $0.080/W to CNY 0.095/W, HJT at $0.095/W to $0.12/W, passivated emitter and rear cell (PERC) at $0.07/W to $0.08/W, and N-TBC at $0.10/W to $0.11/W.
Yonz Technology has broken ground on a CNY 3.5 billion project in Baotou, Inner Mongolia, to build a facility with 100 GW of annual production capacity for aluminum PV module frames. The company has not disclosed a timeline for completion or commissioning.
Xinte Energy said it posted unaudited revenue of CNY 3.19 billion for the three months ending March 31, 2025, with a net loss attributable to shareholders of CNY 263.01 million.
Jinko Technologies said its net profit attributable to shareholders fell 15.4% to CNY 324 million in its 2024 financial results, with earnings per share dropping to CNY 0.09. Revenue rose 9.25% year-on-year to CNY 4.78 billion, driven by growth in self-owned solar power plants and residential solar. The company cited higher solar curtailment rates and reduced investment income from equity disposals amid shifting power market policies as the main factors behind the profit decline. It will issue a pre-tax cash dividend of CNY 0.0279 per share.
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