According to China’s National Energy Administration (NEA), the country added a total of 39.47 GW of new solar capacity in January and February, bringing its total installed solar capacity to 930 GW. This represents an increase of 7.49% compared to the same period last year.
By the end of February, China’s total power generation capacity reached 3.4 TW, up 14.5% year-on-year. Solar capacity increased by 42.9% to 930 GW, while wind power capacity grew by 17.6% to 530 GW.
Investments by major energy companies in power generation projects reached CNY75.3 billion (USD10.4 billion), a modest increase of 0.2%. Meanwhile, investments in network infrastructure increased by 33.5% to CNY43.6 billion (USD6 billion).
G12R Silicon Wafer Prices Increase
According to the China Colored Metals Industry Association (CNMIA), G12R silicon wafer prices experienced significant increases. The average traded price of 182 mm × 210 mm, 130 μm n-type G12R monocrystalline wafers increased by 1.45% on the week to CNY 1.40/piece.
G12 wafers (210 mm × 210 mm, 150 μm) remained stable at CNY 1.55/pcs, while G10L wafers (182 mm × 183.75 mm, 130 μm) maintained CNY 1.19/pcs. Large manufacturers in particular showed strong pricing power for G12R wafers.
Industry-wide utilization rates rose to 55-58%, up 3-5 percentage points from the previous week. Two major manufacturers increased their utilization rates to 56% and 60%, respectively, while integrated manufacturers remained in the 60-80% range.
Meanwhile, solar cell prices rose due to shortages in G12R cell supply. Prices increased from CNY0.25-0.27/W to CNY0.32-0.35/W. G12R wafer prices are expected to exceed forecasts in early April.
1000 kV Ultra High Voltage (UHV) Project from China State Grid
China State Grid has started construction of the 1000 kV Datong-Huailai-Tianjin South ultra-high voltage (UHV) AC transmission project. The 770 km line will run from Datong in Shanxi province to Tianjin’s Binhai New Area, crossing the Yanshan Mountains and the Haihe River basin in Hebei province.
Under the project, 4 new substations will be built and Tianjin South substation will be expanded. A total of 18 GVA of additional transmission capacity will be provided. The project was approved in September 2024 and will be completed in June 2027.
The line will transport 8 GW of wind and solar energy from Shanxi and Hebei provinces, providing 14.6 TWh of clean electricity annually. Thus, 4.45 million tons of coal consumption will be avoided and 11.81 million tons of CO₂ emissions will be reduced.
Tongwei Starts 180,000 Tons of Silicon Metal Production
Tongwei has started trial production at three furnaces of its 180,000-ton capacity silicon metal project at its Guangyuan plant in Sichuan province. The CNY5.8 billion (USD800 million) plant is expected to reach full capacity by May.
With this project, Tongwei aims to secure raw material supply for polycrystalline silicon production. The company also announced that its second phase expansion project with a capacity of 200,000 tons/year is in the environmental approval process. However, the final investment decision will depend on market conditions and resource availability.