Chinese PV Industry Brief: CGN New Energy awards 10.5 GW of panel deals

China General Nuclear (CGN) New Energy has awarded contracts for 10.5 GW of solar modules under its 2025 procurement framework. The winning companies, including JinkoSolar, Longi, and GCL SI, will supply high-capacity n-type bifacial and monofacial panels.

CGN New Energy has awarded contracts for 10.5 GW of solar modules under its 2025 procurement framework. The contracts are split into two packages across seven bidding segments of 1.5 GW each. The winning companies – JinkoSolar, Grand Sunergy Tech, Longi, Gokin Solar, Huansheng Solar, GCL SI, and Meike Solar – will supply n-type bifacial panels of 615 W and above, with backup options of monofacial or bifacial panels of 710 W and above. Bid prices ranged from CNY 0.692 ($0.095)/W to CNY 0.706/W. The contracts run from Jan. 1 to Dec. 31, 2025, with an option for extension upon mutual agreement.

Sofar, a Shenzhen-based solar inverter and energy storage firm, has filed for registration on the Shenzhen Stock Exchange’s Growth Enterprise Market, moving closer to a public listing. After multiple delays and changes, the company now plans to issue up to 93 million A-shares to raise CNY 12.11 billion, with CNY 1 billion earmarked for energy storage and the rest for R&D, manufacturing, and marketing expansion.

The China Nonferrous Metals Industry Association (CNMIA) said that polysilicon production remains at low-capacity utilization across manufacturers, with prices stabilizing compared to last week. Transaction prices for n-type refeed polysilicon range from CNY 39,000 to 46,000 per metric ton (MT), averaging CNY 41,700/MT, while n-type granular silicon trades between CNY 38,000 and 41,000/MT, averaging CNY 39,000/MT. P-type polysilicon prices range from CNY 32,000 to 36,000/MT, with an average of CNY 34,000/MT.

TrendForce said M10 silicon wafer prices are holding steady at CNY 1.10 per piece, while G12 wafers remained at CNY 1.65. n-type 182 mm wafers are priced at CNY 1.18. N-type 210 mm wafers sell for CNY 1.55, while the price of n-type 210R wafers fell 3.03% to CNY 1.28 per piece. In the solar cell segment, M10 cells jumped over 20% this week to CNY 0.33/W, while M10 and G12 tunnel oxide passivated contact (TOPCon) cells held at CNY 0.29/W and G12R TOPCon cells at CNY 0.27/W.