China Solar PV Industry Update: Key Developments in June 2025

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China Solar PV News Snippets – June 20, 2025

**Huasun Energy at TaiyangNews Virtual Conference on June 24 & 26**

Christian Comes, Head of Business Development Europe at Huasun Energy, will be speaking on “The End of LCOE: Rethink Your PV Plant Design” at the TaiyangNews Virtual Conference focused on PV System Technology Trends, including insights from SNEC and Intersolar Product Review. This event is scheduled for June 24 and June 26, from 09:30 to 13:00. Participants can expect valuable insights from industry leaders regarding the latest advancements that are shaping the future of photovoltaics. Register for free using the provided QR code.

**LONGi to Raise RMB 4.8 Billion for BC Production Expansion**

LONGi, a leading integrated manufacturer, plans to raise up to RMB 4.8 billion (approximately $667 million) through a public offering of 2024 Science and Technology Innovation Green Corporate Bonds aimed at professional investors. Of the funds raised, RMB 2.032 billion ($282.2 million) will be allocated to a 46 GW monocrystalline silicon ingot and wafer production facility in Ordos City, which will focus on producing LONGi’s proprietary TaiRay wafers. Additionally, RMB 586 million ($81.4 million) is designated for Phase II of a 3 GW high-efficiency back-contact (BC) cell project in Xi’an, Shanxi Province, while the remaining RMB 2.182 billion ($303.1 million) will support Phase I (12.5 GW) of a high-efficiency BC cell project.

LONGi currently has a production capacity of 15 GW for its second-generation BC modules, with plans to increase this to 35 GW by June 2025. By the end of 2025, the company anticipates that both BC cell and module capacity will reach 50 GW, with production costs nearing those of TOPCon products. In a recent exclusive interview with TaiyangNews Managing Director Michael Schmela at SNEC 2025, LONGi Group VP Dennis She expressed confidence that back-contact technology will become mainstream in the coming years.

**GoodWe Joins IEA PVPS Task 15 on BIPV Framework Development**

GoodWe, a manufacturer of solar inverters and energy storage systems, has officially joined the International Energy Agency’s PV Power Systems Programme (IEA PVPS) Task 15 working group, which focuses on the enabling framework for Building-Integrated Photovoltaics (BIPV). GoodWe is the third Chinese company to participate in this important international collaboration aimed at promoting the deployment of BIPV within the renewable energy and construction sectors. The company attributes its inclusion in Task 15 to its strong brand presence, high product quality in solar building materials, and extensive global project experience.

Recently, GoodWe also received the world’s first TÜV Rheinland low-noise performance certification for its SDT series commercial and industrial (C&I) inverters.

**Suntech Faces Second Round of Restructuring**

Chinese solar pioneer Suntech is undergoing a second round of restructuring. A ruling from the People’s Court of Xinwu District in Wuxi, issued in May 2024, stated that encapsulant manufacturer SVECK filed for Suntech to be placed under bankruptcy review, citing the company’s lack of enforceable assets. In response, Suntech acknowledged its operational challenges and inability to repay debts, applying for pre-restructuring while indicating it has attracted interested investors and meets the conditions for value-preserving reorganization. The company is currently soliciting public interest for potential investors.

Suntech had previously gone through bankruptcy restructuring in 2013 and was acquired by SF-PV. In 2024, management of Suntech was fully transferred to Xiamen Jianfa Group from SF-PV.

**China Allocates RMB 4.19 Billion for Renewable Energy Subsidies**

China’s Ministry of Finance has announced a budget allocation of RMB 4.19 billion (approximately $582 million) for renewable energy price surcharges in 2025. These funds will be distributed across 13 provinces and autonomous regions to support the growth of wind, solar, and biomass power projects. The directive emphasizes timely disbursement of subsidies for energy generated by the end of 2024, prioritizing initiatives such as poverty alleviation PV programs, individual distributed generation projects, competitively allocated projects, and Top Runner initiatives.

The Ministry has also established strict financial supervision and performance management guidelines. Grid companies are required to report historical subsidy disbursements by June 30, while practices such as coal-blended generation are to be eliminated. A joint tracking mechanism between fiscal departments and grid operators will ensure efficient, secure, and compliant utilization of these subsidies.
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