Central & East Asia

India added 12.8GW of solar PV in the FY2023, an 8% decrease year-on-year according to JMK Research. 2022 saw the country experience significant module shortages as it strains to build out its domestic manufacturing profile and lessen its dependence on imports from the east.

Chinese solar PV manufacturer TCL Zhonghuan has planned to issue nearly RMB13.8 billion (US$2 billion) convertible bonds for its 35GW annual capacity ultra-thin high-purity mono silicon wafer and 25GW n-type tunnel oxide passivated contact (TOPCon) 4.0 highly-efficient solar cell plants.

Vibrant Energy said the project financing worth INR22 billion (US$267.9 million) provided by Indian non-banking financial entity Power Finance Corporation will be used for the wind-solar hybrid projects located in Madhya Pradesh and Karnataka.

On April 6, TCL Zhonghuan announced its latest silicon wafer prices, which saw a general downwards trend despite module prices recovering.

Masdar has reached financial close on three PV facilities in Uzbekistan with a combined capacity of approximately 877MW.

India’s accelerated pace with its domestic solar manufacturing capacity is set to reach 110GW of solar PV module capacity per year by 2026.

PV module prices are set to fall considerably in the next five years, though US market prices will remain higher than the rest of the world as its import policies and ongoing competition with China add a market premium.

A developer is required to submit a bid with a minimum capacity of 50MW, while it can also bid for up to 2GW.

Solar tracker supplier Nextracker has signed a deal with EPC contractor Sterling and Wilson to supply trackers to a 1.2GW solar PV project in India.

Solar PV silicon wafer manufacturer TCL Zhonghuan has planned to reach a total mono wafer annual capacity of 180GW by the end of 2023.