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9 GW tender hints at potential rise in module prices

Shenran Clean Energy’s recent announcement of bidding prices has sparked discussions within the solar industry. Many are questioning whether the rise in bid prices, particularly those approaching or hitting the upper limit, indicates an imminent price hike—a scenario not witnessed in some time.

9 GW tender hints at potential rise in module prices

Traders have observed that even promotions for PERC modules seldom drop below 0.8 CNY/W these days, often requiring the addition of n-type modules to complete deals.

Insights from Solarbe reveal a notable trend among module manufacturers: a strong inclination towards raising prices. Despite the potential to fulfill orders at lower rates, numerous companies with significant orders are opting to bid higher prices in recent tenders. Their objective? To enhance profitability across the industry chain.

Three Gorges Group’s Module Tender: A Shift in Dynamics

On March 14th, the bidding for the Three Gorges Group’s 2024 PV module framework centralized procurement (first batch) commenced.

This procurement, unlike previous ones tailored for specific projects, witnessed a surge in participation, with over 30 companies involved in both segments.

In contrast to the 2023 framework procurement, notable changes have been made.

The total demand for p-type has been reduced to only 500 MW, compared to last year’s 3.5 GW for both 182mm and 210mm formats.

In contrast, demand for n-type modules has surged to 8.5 GW, compared to 2 GW last year, constituting 94.4% of the total demand.

This shift underscores the robust support from China’s state-owned enterprises in the power sector for new technologies and products.

P-type Segment

In Segment 1 (p-type 545W and above), 31 companies participated, with bid prices ranging from 0.827 to 0.9288 CNY/W, averaging 0.8619 CNY/W—slightly higher than the previous average.

Notably, bids from three top-tier brands and three emerging top-tier brands fell below the overall average.

Four top-tier brands bid at an average price of 0.8499 CNY/W, slightly lower than the overall average, signaling a strategic move to secure orders by offering competitive rates.

N-type Segment

In Segment 2 (n-type 575W and above), 32 companies participated, with bid prices ranging from 0.839 to 1.0029 CNY/W, averaging 0.9072 CNY/W—slightly higher than before.

Similarly, bids from three top-tier brands and four emerging top-tier brands were below the overall average.

Notably, three top-tier brands bid at an average price of 0.886 CNY/W, more than 0.02 CNY/W lower than the overall average, indicating a concerted effort to secure orders at competitive rates.

Two companies exclusively participated in the p-type segment (including one top-tier brand), three in the n-type segment, and the remaining 29 in both. The n-p price difference averaged 0.0432 CNY/W, aligning with previous trends.

Compared with the 2023 PV tender results, it’s noteworthy that last year, five winning bids for n-type segments and most for p-type segments were below the overall average bid prices.

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