Chinese PV Industry Brief: January-May installations hit 79.15 GW
China’s cumulative installed PV capacity reached 690 GW at the end of May, according to recent numbers released by the country’s National Energy Administration (NEA).
June 28, 2024 Vincent Shaw and Valerie Thompson
Commercial & Industrial PV
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The NEA said that PV developers in China installed 79.15 GW of new solar from January to May, including 19.04 GW in May alone, up 47.6% from May 2023. By the end of May, total installed power generation capacity reached 3.04 TW, up 14.1% year on year. Solar power capacity stood at 690 GW, up 52.2%, and wind power capacity at 460 GW, up 20.5%.
KStar has announced plans for a private placement to raise CNY 1.25 billion ($172.1 million). The net proceeds, after deducting issuance expenses, will fund the construction of a PV inverter and energy storage converter production base, a PV and energy storage system production base, and a research and development center in Fuzhou. Both production bases are slated for completion within 36 months, significantly boosting the annual production capacity of these products.
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