Xin Zuoqi Initiates Application for 2025 Wind and PV Power Projects

The blockade of the Strait of Hormuz has delivered a direct and material external shock to Southeast Asia’s energy supply structure. Solar (PV) is emerging as the main alternative for reducing exposure to fossil fuel price volatility. However, the structural tension between accelerating PV penetration and entrenched electricity market models will be the decisive factor governing the region’s energy transition pace.

According to SMM, affected by the international situation, crude oil prices remained at elevated levels, and cost support for EVA resin producers persisted. Currently, the spot price of PV-grade EVA resin fluctuated around 13,000 yuan/mt. However, downstream demand overall remained relatively subdued, with sluggish transactions. Some enterprises also reduced their supply to the PV market due to uncertainties surrounding the war situation and market volatility, shifting their focus to the foaming and cable markets instead. Looking ahead, module production schedule demand is expected to show a recovering trend from late April to May, with some orders to be released. The overall market is projected to present a weak recovery, with cautious market sentiment and a predominantly wait-and-see approach.

April 21, 2026, Italy's Ministry of Environment and Energy Security (MASE) has announced a 30 MW allocation for floating photovoltaic systems on inland waters, part of the upcoming FER2 renewable energy tender scheduled for June 8. The FER2 mechanism incentivizes innovative and high-cost renewable technologies. Following a disappointing first round in July 2025, where only 900 kW was selected against a 50 MW target—and major projects were rejected—the ministry has reduced the allocated capacity. The tender maintains ceiling tariffs of €0.090/kWh for systems between 1 kW and 300 kW, and €0.0728/kWh for systems above 1 MW.