According to incomplete statistics from Jibang Solar Storage Observation, by June 2025, the total scale of signed/planned, commenced, and put into production projects in the photovoltaic industry reached 42.38GW. Among these, the overseas market stands out in the signing and commencement phases, while the domestic market dominates in the production phase.
In the domestic market, the pace of signing and commencement has slowed this month, with projects focusing on TOPCon and perovskite technology, mainly distributed in Jiangsu and Sichuan, with a total investment exceeding 10 billion yuan. The successful production of the GW-level perovskite stacked component project by GCL-Poly Energy marks an acceleration in the industrialization process of perovskite.
In the overseas market, the number and scale of planned and put into production projects have decreased compared to last month, but the scale of commenced projects has seen significant growth. TOPCon technology has sparked a wave of expansion overseas, with countries such as India, Indonesia, Turkey, Egypt, and the United States becoming core markets for corporate investment.
<h2>Signed/Planned Projects: Overseas Projects at 18.2GW Become the Main Force, India and Turkey Become Investment Hotspots</h2>
According to incomplete statistics from Jibang Solar Storage Observation, there are 7 signed/planned photovoltaic projects in June 2025, with a total scale of 18.2GW. Among these, there is 1 domestic project, the specific scale of which has not yet been disclosed; 6 overseas projects with a total scale of 18.2GW have become the main force in this month's signed and planned projects. From the perspective of the industrial chain, battery cells and components remain the investment focus, with planned capacities of 4.2GW and 14GW, respectively.
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In the battery cell segment, in June, INA Solar plans to build a 3GW battery + 4GW component factory in Madhya Pradesh, India; Premier Energies announced the construction of a 1.2GW TOPCon solar cell production line in Telangana, India.
In the component segment, on June 24, Jusheng Solar's new thin-film photovoltaic component production project with an annual output of 100MW settled in Yunnan, with a total investment of 500 million yuan, built in two phases. In the overseas market, Junda Co., Ltd. (02865) subsidiary Jietai New Energy has reached a strategic cooperation with Schmid Pekintaş Energy to jointly build a 5GW N-type high-efficiency photovoltaic cell production base in Turkey; Solarium Green Energy announced the construction of a 1GW component manufacturing plant in Gujarat, India, using the TOPCon technology route, expected to be operational in the fourth quarter of fiscal year 2026; INA Solar plans to produce 4GW of solar components in Madhya Pradesh, India; Kangfenwei has signed an agreement with Sunkind Energy to plan the construction of a 4GW solar component production line in India.
<h2>Commenced Projects: Focus on Three Major Markets: India, Egypt, and Indonesia, with Component Segment Leading in Scale</h2>
According to incomplete statistics from Jibang Solar Storage Observation, there are a total of 6 commenced photovoltaic projects in June 2025, with a total scale of 10.38GW. Among these, the domestic commenced scale is 1GW, while the overseas commenced scale is 9.38GW, mainly concentrated in the three markets of India, Egypt, and Indonesia
From a specific perspective, the production scale of the battery cell segment is 3.78GW, and the production scale of the module segment is 6.6GW, making the module field the main production force.
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Battery Cell Segment: In June, Involt Energy broke ground on a 1.78 GW TOPCon solar cell factory in Gujarat, India; on June 19, Xinlinfei held a groundbreaking ceremony for its battery module project in the Ain Sokhna industrial zone of the Suez Canal Economic Zone in Egypt. The first phase of the project will build a 2GW battery factory and a 2GW module factory, expected to start operations in the first half of 2026.
Module Segment: In June, Ahaan Solar began construction of its 2GW solar module factory in Haryana, India, with the first phase of a 600MW TOPCon module production line expected to start operations in mid-2025; on June 19, Xinlinfei's 2GW module factory in Egypt commenced construction; in the same month, LONGi launched a module manufacturing plant project in West Java, Indonesia, with an expected annual production capacity of 1.6GW, utilizing HPBC 2.0 high-efficiency battery technology; on June 25, Yihe Power's 1GW solar smart photovoltaic module project in Zhejiang officially started construction, expected to be completed within 12 months.
<h2>Production Projects: Domestic Share Exceeds 90%, Perovskite Mass Production Process Accelerates</h2>
According to incomplete statistics from Jibang Photovoltaic Storage Observation, there are 5 photovoltaic production projects scheduled for June 2025, with a total scale of 13.8GW. Among them, the domestic production scale is 13GW, accounting for as high as 94.2%; the overseas production scale only reaches 0.8GW. From a specific perspective, the production scale of the battery cell and module segments is 10GW and 3.8GW, respectively.
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Battery Cell Segment: On June 8, Xinlinfei Group held a production ceremony for its 10GW new high-efficiency photovoltaic battery project in Yangzhou, Jiangsu, with a total investment of 5 billion yuan, adopting the currently mainstream TOPCon technology.
Module Segment: On June 16, Bila Solar announced that its Indianapolis factory has officially started solar module production, with the first phase aiming for an annual production capacity of 300MW, planning to increase to 1GW after full completion; on June 24, GCL-Poly's GW-level perovskite industrial base was put into production in Kunshan, Jiangsu, with a total investment of 5 billion yuan and a target capacity of 2GW, with the first phase laying out a 1GW perovskite commercial module production line, marking a key step towards the large-scale commercialization of perovskite technology; in the same month, SANY Silicon Energy's 2GW high-efficiency crystalline silicon photovoltaic module production base project in Bazhong, Sichuan officially commenced production; in addition, Heliene also announced that its third solar module production line in Minnesota, USA has been put into production, with an annual production capacity of 500MW
<h2>Other Project Progress</h2>
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Wafer Segment: On June 3rd, the environmental assessment acceptance of Anhui Huasheng's monocrystalline silicon wafer technical transformation project was publicly announced. After the project is completed and put into production, it will add 3.3GW of monocrystalline silicon wafers, increasing the monocrystalline silicon wafer capacity from 2.7GW to 6GW. On June 17th, LONGi Green Energy (601012.SH) plans to raise 4.8 billion yuan, part of which will be used for the annual production of 46GW monocrystalline silicon rods and wafer project of Ordos LONGi Silicon Materials Co., Ltd.
Cell Segment: In June, the cell segment showed a diversified development trend. Domestically, many companies were active, with BANGJIE (002634.SZ) continuing to suspend production of its 10GW TOPCon cell in Yangzhou, Jiangsu; LONGi is promoting battery cell projects using BC technology in Shaanxi and Xixian, involving scales of 3GW and 12.5GW, currently in the fundraising stage, and has also increased investment in the 12GW HPBC cell project in Tongchuan, Shaanxi; Baichuan Changyin's 4GW HJT cell project phase one 2GW production line in Huzhou, Zhejiang failed to advance as planned; Bydac disclosed the construction progress of its 4.5GW TOPCon cell project, with 3GW production line not yet in operation and 1.5GW investment construction paused; China National Building Material's 2GW HJT cell technical transformation project environmental assessment was publicly announced in Jiangyin, Jiangsu; Aiko's 15GW ABC cell project in Yiwu, Zhejiang has added fundraising. Overseas, Premier Energies is debugging the production line for 1.2GW TOPCon cells in Hyderabad.
Module Segment: In June, many domestic module projects were in the preliminary stages of environmental assessment and approval, while overseas projects were actively advancing opening and cooperation matters. LONGi's annual production of 3GW monocrystalline BC module project in Wuzhong, Ningxia has entered the environmental assessment acceptance public announcement stage, and the 8.6GW expansion and reconstruction monocrystalline module project in Jiaxing, Zhejiang has completed environmental assessment document approval; Tongwei's efficient photovoltaic module technical transformation project in Nantong, Jiangsu has been approved for filing; Yibin High Investment Cultural Tourism Investment Construction Co., Ltd.'s annual production of 5GW efficient photovoltaic module intelligent manufacturing project is in the environmental assessment acceptance public announcement; Hangzhou STAR SHUAIER's annual production of 2GW efficient solar photovoltaic module construction project has been announced to be terminated. Overseas, Argentina's first solar module factory is about to open, with a planned total capacity of 450MW, while leaving room for expansion, potentially increasing to 1GW capacity, operated by Empresa Provincial Societaria del Estado (EPSE); JA Solar has reached an agreement with ARTsolar to expand photovoltaic module manufacturing business in South Africa.
Cell and Module Segment: On June 19th, Trina Solar (688599.SH) announced that its 1GW cell module factory in Indonesia is about to be put into operation, with a total investment of over 15 trillion Indonesian rupiah, using TOPCon technology
Overall, by June 2025, the global photovoltaic industry is steadily advancing through layout optimization and technological breakthroughs. Overseas, India and Turkey are accelerating their investments, while domestically, the industry showcases its strength through production scale and perovskite technology breakthroughs. TOPCon technology dominates the market, with multiple technological pathways running in parallel, leading to a more efficient and balanced industry in the future

601012

002860

002634

600438

According to TrendForce's Photovoltaic Industry Observation, the total scale of signed, planned, started, and put into production projects in the photovoltaic industry will reach 42.38 GW by June 2025. The overseas market has shown outstanding performance in terms of signing and starting projects, while the domestic market dominates in terms of projects put into production. Domestic projects are mainly concentrated in TOPCon and perovskite technologies, with an investment amount exceeding 10 billion yuan. The overseas market has achieved significant growth in started projects, with countries like India and Turkey becoming key investment focuses

Zhitong

LONGi

STAR SHUAIER

BANGJIE

Tongwei Co.,Ltd

TrendForce: In June, the total scale of signed/planned, commenced, and put into production projects in the photovoltaic industry exceeded 42GW