By the end of 2024, China's actual installed capacity for primary silicon metal production was 8.5 million mt/year, with a production volume of 4.72 million mt/year. The capacity for polysilicon production was 2.87 million mt/year, with a production volume of 1.84 million mt/year. The capacity for wafer production was 1,170 GW/year, with a production volume of 718 GW/year. China's share of global capacity in these areas exceeded 85%, 94%, and 97% respectively. Among them, the production share of silicon metal and polysilicon increased by 14.6 percentage points and 18.8 percentage points respectively compared to 2020, while the production volume of wafers increased 3.5 times compared to 2020. The top two silicon metal enterprises, the top seven polysilicon enterprises, and the top ten monocrystalline silicon enterprises in terms of global capacity are all rooted in China. Moreover, key enterprises have invested and made arrangements in Southeast Asia, the Middle East, and other regions, forming a new development pattern of "Chinese technology + global layout.

[SMM Silicon-Based PV Morning Meeting Summary: Transaction Prices in the Wafer Market Continue to Decline, Solar Cell Inventory Falls Nearly 30% WoW] Wafer: The market price of N-type 18X wafers is 0.85-0.88 yuan/piece; the price of 210R wafers is 1-1.05 yuan/piece. Wafer prices continue to weaken, with market transaction prices continuing to decline. Solar cell: At month-end, export factories intensified their destocking efforts, with inventory falling nearly 30% WoW, with 183 accounting for the highest proportion.

According to SMM, in order to break the "cut-throat competition", leading domestic PV glass enterprises plan to collectively cut production by 30% starting from July. In addition, the number of enterprises planning to block their furnaces has begun to increase. It is expected that the domestic PV glass supply will decline rapidly, and the domestic supply-demand imbalance will be improved. It is projected that domestic glass production will drop to around 45GW in July.

Indian PV module maker Ahaan Solar has begun construction of a 2GW TOPCon module factory in the Rohnat Industrial Area, Haryana, with a total investment of INR 8 billion (approx. USD 95.8 million).

China’s Sunrev Solar has begun construction on a USD 200 million solar manufacturing complex in Ain Sokhna, Egypt, spanning 200,000 square meters. The project will be developed in two phases to enhance local photovoltaic production, according to SCZONE.

UK-based Genesis Energy Holding and Saudi Arabia’s Desert Technologies (D-T) have signed a strategic collaboration agreement during the Africa Energy Forum to jointly develop and deploy clean energy solutions across Africa.

KKR & Co. has agreed to acquire Zenith Energy, an Australian provider of off-grid and hybrid power systems, from Pacific Equity Partners, OPSEU Pension Trust, and Foresight Group.

JinkoSolar has announced record-breaking efficiency results for its self-developed N-type TOPCon solar products.

From June 23, 2025 to June 29, 2025, SMM recorded a total of 31 domestic enterprise-won PV module projects that week. The disclosed winning bid prices for PV modules were concentrated in the range of 0.69 to 1.24 yuan/W, with a weekly weighted average price of 0.778 yuan/W. The total procurement capacity for the winning bids was 211.68 MW, a decrease of 192.41 MW compared to the previous week.