China’s National Energy Administration (NEA) says solar installations reached 160 GW between January and September 2024, with cumulative capacity hitting 770 GW by August.
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China’s NEA said the country added 20.89 GW of new solar capacity in September, a 27% month-on-month increase. From January to September, newly installed PV capacity totaled around 160 GW. By the end of September, China’s total installed power generation capacity reached 3.16 TW, up 14.1% year-on-year. Solar power capacity surged to 770 GW, a 48.3% increase, while wind power reached 480 GW, up 19.8%. Chinese power companies invested CNY 398.2 billion ($55.89 billion) in grid projects during the first nine months, a 21.1% increase year on year.
Sonangol said it has signed a memorandum of understanding (MoU) with China’s Lihao Semiconductor Material Co. Ltd. to invest in a solar energy complex in Angola. The project aims to produce 180,000 tons of silicon metal and 150,000 tons of polysilicon annually. Sonangol said the agreement paves the way for Angola to develop its own solar panel industry, leveraging local quartz mines to produce industrial silicon and polysilicon.
Sungrow said its subsidiary, Sungrow New Energy Development Co. Ltd., plans to acquire a 10.24% stake in Taiho Intelligent Technology Group, a Chinese A-share listed company, for CNY 451 million. The acquisition price is CNY 24 per share, a 101.51% premium over Taiho’s closing price of CNY 11.91. Sungrow said Taiho’s expertise in spectral detection, intelligent algorithms, and industrial robotic automation aligns with its business goals. Following the announcement, Taiho’s share price surged.
State Power Investment Corp. (SPIC) said it has selected the winners for its first 2024 solar module procurement, totaling 12.5 GW. The contracts went to eight companies, including HY PV (1.98 GW), Das Solar (40 MW), LONGi (200 MW), JinkoSolar (3.27 GW), GCL SI (3.42 GW), Astronergy (1.57 GW), Tongwei (1.72 GW), and SPIC New Energy Science and Technology Co. Ltd. (300 MW). The average winning bid was CNY 0.723/W.
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