A 50% month-on-month plunge in bids: State Power Investment, China Energy Investment, CNNC, China Resources, and others see 6GW of PV EPC bids in July

Since July, based on publicly available information and third-party bidding platforms, the total PV EPC bids in the past month have been approximately 6GW, including approximately 5.4GW of centralized projects and 0.6GW of distributed PV projects.

In terms of project owners, they are mainly state-owned enterprises such as State Power Investment Corporation, China Resources, Huaneng Power International, CGN, CNNC, and others, as well as local state-owned enterprises such as Yunnan Energy Investment, Shaanxi Investment, Guizhou Energy, Sichuan Investment, and Beijing Energy; private enterprises are almost non-existent.
In terms of winning bidders, they are mainly subsidiaries of Power Construction Corporation of China, China Energy Engineering Group, China Construction, and CNNC, but there are also a number of private enterprises.
In terms of bidding results, large-scale EPC projects including key equipment such as PV modules and inverters totaled approximately 2.6GW, with the highest bid price at 4.55 yuan/watt and the lowest at 2.024 yuan/watt; small-scale EPC projects excluding key equipment such as PV modules totaled approximately 3.4GW, with the lowest bid price at 0.2 yuan/watt and the highest at 1.96 yuan/watt.
It should be emphasized that since the scope of EPC bidding for various projects varies, the bid prices vary greatly. The table above is for reference only.
It is worth noting that in July, centralized ground-mounted PV EPC projects were mainly small-scale EPC projects, and some projects were already under construction in the first half of the year. Small-scale EPC projects mainly involve on-site construction; while distributed projects are mainly large-scale EPC projects.
Compared with the EPC bidding situation in June, the scale of EPC bidding in July decreased from 12GW to about 6GW, a month-on-month decrease of 50%; compared with the July 2024 PV EPC scale, it decreased from 18GW to 6GW, a year-on-year decrease of 67%.
In addition, judging from the EPC bidding projects in July this year, they are mainly bidding projects launched in June this year.
The winning bids for some projects are shown below:

 

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