Photovoltaic module rankings for January–October: 116 GW! Leading companies include GCL, Jinneng, LONGi, Yingli, Huayao, Oriental Rise, and Gaojing.

According to statistics compiled by PV Tech, from January 1 to October 31, approximately… 471 items The winning bids for the photovoltaic module tender project (bidding section) have been finalized. The total capacity is approximately 116 GW. (Note: This includes projects that were tendered in 2024 but finalized in 2025.)

 

Among them, the component tender for October 1.74GW , N-type module rating 1.43GW , proportion 82.24% 。

 

In October, The average price of photovoltaic modules is RMB 0.727 per watt. The lowest winning bid price was RMB 0.707 per watt, and the highest was RMB 0.813 per watt. The average price of N-type photovoltaic modules is RMB 0.722 per watt. The lowest winning bid price was RMB 0.707 per watt, and the highest winning bid price was RMB 0.740 per watt.

 

In October, the technical roadmap specified that TopCon module prices were RMB 0.722/W, HJT module prices were RMB 0.731/W, and BC module prices were RMB 0.734/W.

 

Analysis reveals that, during the January–October period, the photovoltaic module tendering market among central state-owned enterprises has exhibited the following trends and characteristics:

 

1. In terms of the scale of benchmarking, Awarded in January–October 2025 116GW , From January to October 2024, the contracted capacity totaled 241 GW. Compared with the same period in 2024, the contracted capacity for January–October 2025 shows a downward trend;

 

2. In terms of price, From January to October 2025, the benchmark prices for photovoltaic modules followed a trend of first rising, then falling, and finally declining slightly. From January to October, the monthly average price ranged from 0.686 to 0.734 yuan/W.

 

From January to October, the benchmark prices for N-type photovoltaic modules followed a trend of initial decline followed by a slight increase, with the average monthly price range spanning… 0.689~0.725 yuan/W 。

 

3. State-owned enterprises account for 84.17% of the contracted capacity. It shows a downward trend compared with the share of contracted capacity among central state-owned enterprises from January to October 2024.

 

4. On the technological roadmap, Among the photovoltaic module projects awarded contracts from January to October, N-type modules have been explicitly allocated a specific capacity. 105.93GW , proportion 91.32% ; P-type modules clearly defined scale 1.67GW , proportion 1.44% ; Component type and scale not specified 8.40GW , proportion 7.5% 。

 

Among N-type modules awarded contracts from January to October, TOPCon modules have a clearly defined scale. 77.23GW , accounting for 72.90% 。

 

From January to October, among the projects with clearly defined technological roadmaps, In centralized projects TopCon modules account for 94.22%, HJT modules for 4.87%, and BC modules for 1.41%.

 

In distributed projects TopCon modules accounted for 5.24%, HJT modules for 86.91%, and BC modules for 7.85%.

 

5. From the perspective of power requirements, Photovoltaic module capacity of 600 W and above 27.91GW , proportion 24.1% 。

 

6. As for the winning bidders, A total of 205 companies, including Xinxin Integrated, Jinneng Technology, LONGi Green Energy, Jinko Solar, HuanSheng Photovoltaic, Yingli Development, Huayao Optoelectronics, Oriental Rise, JA Solar, and Gaojing Solar, have won the bids.

 

7. Regarding the winning bidders, This includes 26 central state-owned enterprises—such as China National Nuclear Corporation, Datang Corporation, PowerChina, China General Nuclear Power Group, China National Petroleum Corporation, China Resources Group, China Railway Construction Corporation, China Three Gorges Corporation, China Huadian Corporation, State Power Investment Corporation, South-to-North Water Diversion Group, China Energy Group, China Southern Power Grid, China Railway Group, China Nonferrous Metals Industry’s Foreign Engineering and Construction Co., Ltd., China Communications Construction Company, China Baowu Steel Group, Sinopec, Ansteel Group, China Huaneng Group, China National Building Material Group, China Electrical Equipment Corporation, China Energy Engineering Group, State Grid Corporation of China, China Railway Corporation, and China Coal Science and Technology Group—as well as 131 local and private enterprises.

 

(Note: All statistical data in this article are based on publicly available tender information with clearly specified award quantities, excluding unallocated shares from centralized procurement. Any omissions are welcome to be supplemented.)

 

Five Major Trends in the Photovoltaic Module Tendering Market from January to October

 

According to publicly available data compiled by PV-Toutiao, from January 1 to September 30, the domestic photovoltaic module bidding market saw 195 manufacturers and distributors—including Jinneng Technology, Xinxin Integrated, LONGi Green Energy, Jinko Solar, HuanSheng Photovoltaic, Huayao Optoelectronics, Oriental Rise, Yingli Development, Gaojing Solar, Guosheng Technology, and Meiko Shares—secure approximately 114 GW of photovoltaic module procurement contracts.

 

1 Xinxin, Jinneng, and Longi Lead the Winning Bids

 

According to statistics compiled by PV Headlines based on publicly available information, excluding several projects for which the actual winning bid capacity has not been disclosed, among the project capacities that have already been confirmed, Xinxin Integrated won bids for 6,257.62 MW, ranking first; Jinneng Technology secured 6,000 MW, placing second; LONGi Green Energy was awarded 4,212.53 MW, coming in third. In addition, Jinko Solar (2,555.45 MW), HuanSheng Photovoltaic (2,311.14 MW), Yingli Development (2,114.43 MW), Huayao Optoelectronics (2,053.44 MW), Oriental Rise (1,847.06 MW), JA Solar (1,804.23 MW), and GCL‑Solar (1,730 MW) also ranked among the top ten in the January–October photovoltaic module tender list.

 

Note: All statistics are based on publicly disclosed data with clearly defined awarded contract volumes and exclude unallocated shares in centralized procurement.
 

The data presented in this article are primarily sourced from publicly available information and corporate surveys. We strive to ensure the comprehensiveness and accuracy of our data; should any omissions be identified, please feel free to contact us for supplementation. This data does not constitute investment advice and is provided for readers’ reference only.

 

2 TOPCon Component proportion: 72.90%

Among the photovoltaic module projects that were awarded contracts from January to October, The confirmed capacity for N-type modules stands at 105.93 GW, accounting for 91.32%; the confirmed capacity for P-type modules is 1.67 GW, representing 1.44%; and the capacity for modules with unspecified types totals 8.40 GW, or 7.5%.

Among the N-type modules awarded contracts from January to October, TOPCon modules account for a confirmed capacity of 77.23 GW, representing 72.90% of the total. HJT modules have a confirmed capacity of 3.78 GW, accounting for 3.57%. BC modules stand at 1.17 GW, or 1.10%. Modules with an unspecified technology pathway total 23.76 GW, making up 22.43%.

 

 

3 1-10 Average monthly price: 0.686–0.734 yuan/W

 

In terms of pricing, the benchmark prices for photovoltaic modules from January to October 2025 showed a slight downward trend compared with the period from January to September.

 

Among them The average price in October was RMB 0.727 per watt. , the lowest winning bid price was RMB 0.707/W, and the highest was RMB 0.813/W; The average price in September was RMB 0.734/W. , the lowest winning bid price was RMB 0.690 per watt, and the highest winning bid price was RMB 0.795 per watt; Average price in August: 0.714 yuan/W , the lowest winning bid price was RMB 0.640 per watt, and the highest winning bid price was RMB 0.760 per watt; Average price in July: 0.686 yuan/W , the lowest winning bid price was RMB 0.608/W, and the highest winning bid price was RMB 0.730/W; Average price in June: 0.720 yuan/W , the lowest winning bid price was RMB 0.640 per watt, and the highest was RMB 0.867 per watt; Average price in May: 0.702 yuan/W , the lowest winning bid price was RMB 0.657/W, and the highest winning bid price was RMB 0.759/W; The average price in April was RMB 0.707 per watt. The lowest winning bid price was RMB 0.660 per watt, and the highest winning bid price was RMB 0.780 per watt. The average price in March was RMB 0.716 per watt. The lowest winning bid price was RMB 0.692 per watt, and the highest winning bid price was RMB 0.750 per watt. The average price in February was RMB 0.697 per watt. The lowest winning bid price was RMB 0.650 per watt, and the highest was RMB 0.780 per watt. The average price in January was RMB 0.691 per watt. The lowest winning bid price is RMB 0.630 per watt, and the highest is RMB 0.759 per watt. (Note: This excludes prices for special modules such as perovskite and lightweight panels.)

 

 

From January to October, the benchmark prices for N-type photovoltaic modules followed a trend of first declining and then rising slightly. From January to October, the monthly average price ranged from RMB 0.689 to RMB 0.725 per watt.

 

 

In October, the already clarified… The price of TopCon modules is RMB 0.722/W; the price of HJT modules is RMB 0.731/W; and the price of BC modules is RMB 0.734/W.

 

 

From January to October, among the projects with clearly defined technological roadmaps, In centralized projects, TopCon modules account for 94.22%, HJT modules for 4.87%, and BC modules for 1.41%.

 

In the distributed project, TopCon modules account for 5.24%, HJT modules for 86.91%, and BC modules for 7.85%.

 

4600Wp The above accounts for 24.1%.

 

Among the photovoltaic module tender projects from January to October, except for those with unspecified power ratings, Components below 600 Wp account for 26.8%, with a contracted capacity of 31 GW. The 600–700 Wp range represents 21.4%, corresponding to a contracted capacity of 24.79 GW. For modules in the 700 Wp and above power class, the contracted capacity stands at 3.12 GW, accounting for 2.7%.

 

 

510 Monthly ranking of high and low bids for photovoltaic modules
 

 

Based on the shortlisted candidates for component tender projects, PV Headlines has compiled the October 2025 rankings of lowest and highest bid prices for photovoltaic modules. Details are as follows:

 

 

Among them, on October 27, the results of the public announcement for the bid award of photovoltaic module procurement for the Zhangbei County 270 MW PV‑storage demonstration project—Phase II of the Chahan Nuoer Basin Governance and Rural Revitalization initiative—were released. The project has a total AC‑side capacity of 270 MW, utilizing bifacial, double‑glass monocrystalline silicon solar modules with a rated power of 620 Wp or higher, along with N‑type TOPCon monocrystalline silicon cells mounted on fixed racking systems. The inverter‑to‑PV ratio is 1:1.2, while the DC‑side capacity stands at 324.24 MWp. Yingli Development The project was awarded to us at a winning unit price of RMB 0.707 per watt.

 

On October 30, the results of the procurement review for photovoltaic modules in the EPC general contracting project of the 4.06 MW distributed photovoltaic power generation system at the Baishazhou Water Plant in Wuhan were publicly announced. Hunan Red Sun The project was awarded to us at a winning unit price of RMB 0.813 per watt.

 

116 GW of photovoltaic procurement

State-owned enterprises account for 84.17%—who is the winner?

 

According to an analysis of publicly available tender and award information, from January 1 to October 31, 157 companies were awarded a total of 471 photovoltaic module procurement projects (bidding packages). The total capacity amounts to approximately 116 GW. Of this, central state-owned enterprises account for 97.63 GW, representing 84.17% of the overall capacity.

 

Note: The data presented in this article are primarily drawn from publicly available sources and corporate surveys. We strive to ensure the comprehensiveness and accuracy of our data; should any information be missing, please feel free to contact us for supplementation. This data does not constitute investment advice and is provided for readers’ reference only.

 

In addition, several state-owned and private enterprises, including Jinneng Holding Group, Inner Mongolia Energy Group, and Hunan Energy Group, also finalized project awards during this reporting period.

 

On the procurement enterprise side, China National Nuclear Corporation, Datang, PowerChina, China General Nuclear Power Group, China National Petroleum Corporation, China Resources, China Railway Construction Corporation, Three Gorges Corporation, China Huadian Corporation, State Power Investment Corporation, China South-to-North Water Diversion Group, China Energy Group, China Southern Power Grid, China Railway Group, China Nonferrous Metals Industry’s Foreign Engineering and Construction Co., Ltd., China Communications Construction Company, China Baowu Steel Group, Sinopec, Ansteel Group, China Huaneng Group, China National Building Material Group, China Electrical Equipment Group, China Energy Engineering Group, State Grid Corporation of China, China Railway Corporation, China Coal Science and Technology Group All 26 central state-owned enterprises have finalized their photovoltaic module procurement projects.

 

Among them, China National Nuclear Corporation During this statistical period, a total of 11 projects (bidding sections) were awarded, with their respective scales clearly defined. 27.4GW Longi Green Energy, Tongwei Co., Ltd., Astronergy, Huayao Optoelectronics, Jinzhou Sunshine, Jingmei Hua Energy, Ouda Optoelectronics, Quanwei Technology, Tongfang Chaoguang, Xinyuan Solar, Yijing Optoelectronics, CNBM Junxin, Zhongkong Wanlian Investment, JA Solar, Zhengtai New Energy, Yingli Energy, and Trina Solar were among the winning bidders.

 

In June, China National Nuclear Corporation’s 2025–2026 First-Level Centralized Procurement Project for Photovoltaic Module Equipment Public announcement of bid results. Ten photovoltaic module manufacturers—Jinko Solar, LONGi Green Energy, ZNEN, Yingli Development, Trina Solar, Tongwei Co., Ltd., Xuhé Technology, Astronergy, Jinko Energy, and Guosheng New Energy—have been awarded the contracts. The total procurement volume in this centralized purchasing round for photovoltaic modules is… 26.667GW , the project is divided into a single contract section. Among them, P-type modules: 1.667 GW; N-type modules: 25 GW , the framework for centralized procurement is valid until March 31, 2026.

 

 

During this statistical period, Great Tang A total of 1 project (lot) has been awarded, namely: Datang’s 2025–2026 Annual Framework Procurement of Photovoltaic Modules , with a procurement scale of 22.5GW JinkoSolar, LONGi Green Energy, Trina Solar, Tongwei Co., Ltd., Dao Yi New Energy, and Zhengtai New Energy were among the winning bidders.

 

 

PowerChina During this statistical period, a total of 154 projects (bidding sections) were awarded, with a combined scale of 10.97GW A total of 54 companies, including LONGi Green Energy, JinkoSolar, JA Solar, Yingli Green Energy, Trina Solar, ZNEN, HuanSheng Photovoltaic, Tongwei Co., Ltd., Astronergy, and Yidao New Energy, have won the bids.

 

 

China General Nuclear Power Group During this statistical period, a total of 8 projects (bidding sections) were awarded, with a combined scale of 10.5GW Eight companies—JinkoSolar, Guosheng Technology, LONGi Green Energy, Gaojing Solar, HuanSheng Photovoltaic, Xinxin Integrated, Sungrow Power Supply, and Meiko Shares—were awarded the contracts.

 

Among them, China General Nuclear New Energy Shaanxi Branch Photovoltaic Power Station Component Technical Upgrade Procurement Project With a capacity of 5.14886 MW, Sunshine Zhiwei won the bid for this project at a unit price of RMB 1.088 per watt.

 

 

During this statistical period, China National Petroleum Corporation A total of 7 projects (bidding sections) have been awarded, with a combined scale of 9.6GW Zhengtai New Energy, Oriental Rise, LONGi Green Energy, Astronergy, Hornding Dongci, Hongyuan Green Energy, HuanSheng Photovoltaic, JA Solar, JinkoSolar, Oda Optoelectronics, Seraphim, Trina Solar, Tongwei Co., Ltd., GCL‑Poly, Yidao New Energy, Yingli Energy, Zhengxin Photovoltaic, Zhongqing Group, AE Solar, and Huasheng New Energy—20 companies in total—have been shortlisted for this project.

 

 

China Resources During this statistical period, a total of 10 projects (bidding sections) were awarded contracts, with a combined scale of 6.12 GW. Companies including Xinxin Integrated, Huayao Optoelectronics, LONGi Green Energy, JA Solar, and Trina Solar have won the bids.

 

 

During this statistical period, China Railway Construction Corporation A total of 21 projects (bidding sections) have been awarded, with a combined scale of 3.6GW , Longi Green Energy, Jinko Solar, Trina Solar, Tongwei Co., Ltd., JA Solar, Zhejiang Chint New Energy, Yingli Green Energy, GCL System Integration, and others have won the bids.

 

 

Three Gorges Group During this statistical period, one project (lot) was awarded, namely: 2024 Photovoltaic Module Frame Centralized Procurement Project (Second Batch) , the procurement capacity is 2.5GW Three companies—Xinneng, Tongwei Solar, and Zhengtai New Energy—have won the bid.

 

 

During this statistical period, Huadian A total of 3 projects (bidding sections) have been awarded, with a procurement capacity of 1.42GW , Xinxin Integrated, Huasheng New Energy, and Guodian Investment New Energy were the three companies that won the bid.

 

 

State Power Investment Corporation During this statistical period, 6 projects (bidding sections) were awarded contracts, with a total capacity of… 1099.72MW . The five companies—Aiko Solar, LONGi Green Energy, GCL System Integration, Oriental Rise, and Pincheng Jingyao—have won the bid.

 

 

During this statistical period, South-to-North Water Diversion Project of China A total of 2 projects (bidding sections) have been awarded, with a combined scale of 1GW Longi Green Energy, Tongwei Co., Ltd., JinkoSolar, JA Solar, and others have won the bids.

 

 

National Energy Group During this statistical period, a total of one project (lot) was awarded, namely the first batch of centralized procurement of photovoltaic module equipment for 2025 by Guohua Investment of China Energy Group, with a scale of… 586.24MW , Tongwei Co., Ltd. has won the bid.

 

 

China Southern Power Grid During this statistical period, 15 projects (bidding sections) were awarded contracts, with a total capacity of… 127.67MW Tongwei Co., Ltd., Yijing Optoelectronics, LONGi Green Energy, Jinko Solar, and China Energy Conservation Solar Power, among others, have won the bids.

 

 

China Railway Group During this statistical period, 4 projects (bidding sections) were awarded contracts, with a total capacity of… 112.73 MW. Hubei Qianxing Commerce, Hebei Magpie Commerce, and others have won the bid.

 

 

China Nonferrous Metal Group During this statistical period, one project (lot) was awarded, with a capacity of… 27MW . JA Solar has won the bid.

 

 

China Communications Construction Company, China Baowu Steel Group, Sinopec, Ansteel Group, China Huaneng, China National Building Material Group, China Electrical Equipment Group, China Energy Engineering Group All have finalized the bidding for photovoltaic module projects.

 

The details of the winning bid are as follows:

 

 

 

 

 

 

 

In addition, State Grid, China Railway Group, China Coal Science and Technology Group A photovoltaic module project has been awarded, but the procurement capacity has not yet been specified.

 

 

Xinxin Integrated has won bids for 31 projects.

The winning bid capacity has been confirmed at 6,257.62 MW.

 

During this statistical period, Xinxin Integrated won bids for 31 projects (bidding sections) from China Power Construction, CGN, PetroChina, China Resources, State Power Investment Corporation, China Huadian, Sinopec, China Coal Science and Technology Group, China Baowu Steel Group, Hebei Communications Investment Group, and other enterprises, with a confirmed awarded capacity of… 6257.62 MW.

 

 

Among them, Xinxin Integrated’s highest winning bid price was RMB 0.790 per watt, for the Quanzhou Huihao New Energy Group Co., Ltd.’s 2025 distributed photovoltaic power generation project—specifically, the first package of the annual framework agreement procurement for photovoltaic modules, grid‑connected components, and installation (maintenance and testing) services, which includes photovoltaic modules.

 

In addition, Xinxin Integrated’s lowest winning bid price was RMB 0.692 per watt, and the awarded projects included three lots under China Resources Power’s 2024 Fourth Batch Photovoltaic Component Equipment Centralized Procurement Project.

 

Jinneng Technology has won bids for five projects.

The winning bid capacity has been confirmed at 6,000 MW.

 

During this reporting period, Jinneng Technology won bids for five projects (bidding sections) from Jinneng Holding, PowerChina, Shanxi Communications Control Group, and China Coal Science and Technology Group, with a confirmed awarded capacity of… 6000MW。

 

 

Among them, Jinneng Holding Jinbei Energy (Shanxi) Co., Ltd. Centralized Procurement Project for Photovoltaic Modules at the Jinbei Coal Mining Subsidence Area New Energy Base , procuring bifacial double-glass 182×182–210 mm/210 mm TOPCon modules, with a project procurement capacity of 6,000 MW. Jinneng Technology won the bid for this project at a winning unit price of RMB 0.720 per watt.

 

Longi Green Energy has won bids for 57 projects.

The winning bid capacity has been confirmed at 4,212.53 MW.

 

During this reporting period, LONGi Green Energy won bids for 57 projects (bidding sections) from companies including CGN, PetroChina, PowerChina, Datang, China Railway Construction Corporation, and Sinopec, with a confirmed awarded capacity of… 4212.53MW。

 

 

Among them, LONGi Green Energy secured the highest winning bid price at RMB 0.768 per watt, with the winning project being… South-to-North Water Diversion Central Route New Energy (Beijing) Co., Ltd. – 2025–2026 Centralized Procurement for Photovoltaic Modules, Lot 2: Monocrystalline Bifacial Double-Glass (BC/HJT) PV Modules 。

 

Longi Green Energy’s lowest winning bid price was RMB 0.705 per watt, with the awarded projects being: China Resources Power’s 2024 Fourth Batch Centralized Procurement of Photovoltaic Module Equipment: North China Region, Lot II; CGN New Energy’s 2025 Framework Centralized Procurement Package 1, Lot III for Photovoltaic Module Equipment; Hunan Energy Group’s Red Temple Fort District New Energy Base 3,000 MW Photovoltaic‑Hybrid Power Generation Project (Phase I: 1,000 MW) – Procurement of Photovoltaic Module Equipment; and China Datang Corporation Limited’s 2025–2026 Framework Procurement of Photovoltaic Modules, Lot I, N‑type; as well as the photovoltaic module equipment procurement for the Yiyang City Datong Lake District Heba Town Fishery‑Photovoltaic Complementary Power Generation Project. 。

 

JinkoSolar has won bids for 40 projects.

The winning bid capacity has been confirmed at 2,555.45 MW.

 

During this reporting period, JinkoSolar won bids for 40 projects (bidding sections) from China General Nuclear Power Group, PetroChina, Huanghe Photovoltaic, China Nonferrous Metals Group, PowerChina, China National Building Material Group, China Railway Construction Corporation, Sinopec, China National Building Material Group, China Coal Science and Technology Group, Shanxi Communications Control Group, and other enterprises, with a total confirmed awarded capacity of… 2555.45MW。

 

 

Among them, JinkoSolar secured the highest winning bid price at RMB 0.785 per watt, with the winning project being… Quanzhou Huihao New Energy Group Co., Ltd. 2025 Distributed Photovoltaic Power Generation Project [Photovoltaic Modules, Grid-Connection Components, and Installation (Repair, Testing) Services – Annual Framework Agreement Procurement Partner Whitelist Package 1: Photovoltaic Modules] 。

 

In addition, JinkoSolar’s lowest winning bid price was RMB 0.705 per watt, with the awarded projects being: China Datang Corporation Limited’s 2025–2026 photovoltaic module framework procurement, Lot 1; CGN New Energy’s 2025 photovoltaic module equipment framework centralized procurement package, Package 1, Lot 1; and NanShuiBeiDiao Central Line New Energy (Beijing) Co., Ltd.’s 2025–2026 centralized procurement of photovoltaic modules, Lot 1: N-type monocrystalline bifacial double-glass (TOPCon) photovoltaic modules. 。

 

HuanSheng Photovoltaic has won bids for 13 projects.

The winning bid capacity has been confirmed at 2,311.14 MW.

 

During this statistical period, HuanSheng Photovoltaic won bids for 13 projects (bidding sections) from companies including PowerChina, PetroChina, and CGN, with a confirmed awarded capacity of… 2311.14MW。

 

 

Among them, Huansheng Photovoltaic has been awarded the contract at a unit price of RMB 0.692 per watt, with the winning bid project being… China General Nuclear New Energy’s 2025 framework procurement package for photovoltaic module equipment, Lot 1, and the 2 million kW “A‑Electricity to Urumqi” regional mutual‑assistance new energy project (including 1.7 million kW of photovoltaic capacity) with a 500,000 kW AC‑side capacity. 。

 

Note: The data presented in this article are primarily drawn from publicly available sources and corporate surveys. We strive to ensure the comprehensiveness and accuracy of our data; should any information be missing, please feel free to contact us for supplementation. This data does not constitute investment advice and is provided for readers’ reference only.

 

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