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GCL, Tongwei lead Q1 solar module tenders, n-type module prices down 20%

Solar module tenders in China reached over 97 GW in the first quarter of 2024, marking a 114% increase compared to the same period last year.

One of the most notable trends is the rising proportion of n-type modules, which accounted for over 70% of all tenders. This represents a significant increase compared to just 1% during the same period last year.

Another important trend is the increasing demand for high-power modules, with many tenders specifying modules with power ratings of 570W and above.

Regarding pricing, p-type modules averaged between CNY 0.85 to 0.92/W in the first quarter, while n-type modules ranged from CNY 0.87 to 0.98/W. This indicates a significant drop of nearly 50% in n-type module prices compared to last year, and a roughly 20% decrease compared to the fourth quarter of 2023.

Out of the 97 GW tendered, 10 GW have disclosed the companies that secured the tender along with the allocated capacity. The remaining 87 GW of framework procurement only revealed the winning bid companies, without specifying the supply amount.

In the 10 GW disclosed tenders, GCL System Integration (GCL SI) and Tongwei Solar emerged as leaders in securing module tenders, with GCL SI securing tenders for over 2 GW of modules, and Tongwei Solar securing tenders for over 1.9 GW.

Other notable companies include JA Solar, Jinko Solar, Canadian Solar, EGing PV, DAS Solar, Yingli Solar, Trina Solar, and Jinergy.

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