According to incomplete statistics from public information, from April 1 to April 30, about 49 PV inverter bidding projects (bid sections) were awarded, with a total capacity of 37.83GW. In terms of winning bidders, TBEA, Hewang Electric, Huawei, Sungrow, GoodWe, Sineng Electric, Kehua Data, Cresda, Jinlang Technology, Shouhang New Energy, Zhuzhou Converter, Chint Power and other enterprises won the bid.
In terms of bidding, China Denso, China Resources, China Energy Group, China National Nuclear Corporation, China Southern Power Grid, Jinkai New Energy, Jingneng Group and other enterprises have released 29 bidding projects, with a total capacity of about 3.46GW.
TBEA, Hewang, and Huawei led the bidding
The lowest is 0.098 yuan/W, and the highest is 0.191 yuan/W
According to the statistics of international energy network/photovoltaic headlines, from April 1 to April 30, 31 inverter manufacturers or agents, including TBEA, Hewang Electric, Huawei, Sungrow, Sineng Electric, Kehua Data, GoodWe, Cresda, Jinlang Technology, Shouhang Xinneng, Zhuzhou Converter, and Chint Power, jointly won 37.83GW of PV inverter bidding and purchase orders.
Among them, TBEA won the bid of 3,810MW, ranking first; Hewang Electric won the bid of 2280MW, ranking second; Huawei won the bid for 2,127MW, ranking third. In addition, Sungrow, Kashgar Zhaoheng Clean Energy Co., Ltd., Sineng Electric, Kehua Data, GoodWe, Cresda, Rifeng Electric and other companies also ranked among the top 10 inverters in April.
Looking at the bid-winning market in April, the PV inverter bidding market is highly competitive, and the price fluctuates. According to the statistics of the international energy network/PV headlines, the lowest price bidding project in April is the first batch of inverter framework bidding bid section 1 of China Huadian Group Co., Ltd. in 2024: string inverters of 200kW and above. TBEA is the winning candidate, and the bid unit price is 0.098 yuan/W. The tender capacity of this section is 10GW. Huadian Zhengzhou Machinery Design and Research Institute Co., Ltd. has the highest quotation, with a unit price of 0.119 yuan/W, a difference of 0.0207 yuan/W from TBEA.
The highest price award project is the procurement of centralized inverter booster (Huabian) equipment for the 270MW fishery-photovoltaic complementary photovoltaic project in Dashan Town, Yuanjiangnan, Chang'an. The tenderer of the project is Beijing Shuangjie Electric Co., Ltd., and Crestec is one of the winning candidates, with a bid unit price of 0.191 yuan/W.
In addition, the inverter won the bid in the market in April, and the competition between inverter companies is fierce. Taking the centralized procurement of inverters in 2024 as an example, the bidding capacity of bid section 1 is 3GW, and there are 8 participating companies, all of which are well-known domestic inverter companies. In the second bidding section, the capacity of 5GW was tendered, and a total of 16 inverter companies participated in the bidding, and finally 5 companies were shortlisted as winning candidates, and 11 were eliminated. Bid 3 tendered for 2GW capacity, 17 inverter companies participated in the bidding, and 12 were eliminated.
Since the second half of 2023, the shipment of inverter companies has been hindered due to the accumulation of inventory in overseas markets. The competition in the domestic market is more intense, and there are inverter listed companies in the annual report bluntly, in order to compete for the market, in terms of price, concessions, which is particularly obvious in the bidding and quotation strategy, and the price war has no signs of stopping.
37.83GW of inverter procurement
Central enterprises account for 93.18%, who is the winner?
According to the information of the international energy network/photovoltaic headlines, it was found that from April 1 to April 30, 15 companies, a total of 49 inverter procurement projects (bid sections), were awarded, with a total capacity of 37.83GW. Among them, there are 43 central enterprise procurement projects (bidding sections), with a total capacity of 35.25GW, accounting for 93.18% of the total capacity.
In terms of purchasing enterprises, nine central enterprises, including Huadian, China National Nuclear Corporation, Three Gorges, Power Construction, National Energy Group, General Technology, China Resources, China Communications Construction, and China Southern Power Grid, have inverter procurement project bidding.
Among them, the statistics of the international energy network/photovoltaic headlines show that Huadian calibrated 13GW of inverter procurement projects in this statistical period, ranking first in the inverter calibration capacity list in April. In terms of winning bidders, seven companies, including Crestec, TBEA, GoodWe, Sungrow, Zhengzhou Machinery, Sineng Electric, and Zhuzhou Converter, have become the biggest winners.
Huadian's bidding project is the first batch of inverter framework tenders for China Huadian Group Co., Ltd. in 2024. The project is divided into 4 bids with a total capacity of 13GW. Among them, 10GW of 200kW and above string inverters and 2GW of centralized inverters are tendered. 0.6GW for 50-150kW string inverters, and 0.4GW for bidding capacity below 50kW.
Crestec and TBEA were shortlisted for 4 bids, and GoodWe and Sungrow were shortlisted for 2 bids. The rest of the specific winning bids are as follows:
CNNC's three annual inverter centralized procurement projects were all awarded in April. Among them, China Nuclear Energy will purchase inverters in 2024, with a capacity of 10GW; CNNC (Nanjing) Energy Development Co., Ltd.'s 2024 inverter framework procurement supplier was shortlisted for bidding, with a project capacity of 1GW; CNNC's 2024 PV inverter first-level centralized procurement project, with a procurement capacity of 1GW.
In terms of winning bidders, 15 companies, including Sineng Electric, Sungrow, Hewang Electric, Zhuzhou Converter, Crestec, GoodWe, Kehua Data, Huawei, and Chint Power, won the bid.
CNNC's centralized procurement fully tested the strength of each inverter. As mentioned above, there is fierce competition among companies, and the probability of elimination is high. CHINT Power was shortlisted for the 2024 inverter centralized procurement package 2 of China Nuclear Huineng and the 2024 inverter framework procurement supplier of CNNC (Nanjing) Energy Development Co., Ltd. was shortlisted for the bidding package 1. Among them, China Nuclear Energy 2024 inverter centralized procurement package 2 clearly purchases string inverters of more than 300kW.
According to the news released by CHINT Power, CHINT Power's 320kW string inverter is the main product shortlisted for the project. The inverter uses heat exchanger technology to maintain a rated power of 320kW in a high temperature environment of 50°C, and supports 1.1 times full load operation at 45°C. In addition, CHINT Power's 320kW string inverter supports multi-channel MPPT tracking, with a maximum input current of 40A for a single MPPT, and a design current of 10% for bifacial modules, which can be flexibly adapted to 210/182/210R and other modules. At the same time, CHINT Power's 320kW string inverter has IP66 protection level, and also realizes IP66 protection for junction box opening and C5-M level anti-corrosion, which is suitable for ground power station scenarios in various environments.
In April, CNNC won the bid for inverter procurement as follows:
In this statistical period, the Three Gorges Group will award the 2024 centralized procurement project of photovoltaic inverter frame. The project is divided into two bids, of which Lot 1 procures 196-300kW string inverters with a rated capacity of 400MW, and Huawei finally wins the bid. The procurement capacity of the bid section is 7,600MW, and TBEA, Hewang Electric, and Huawei rank among the top three. Distributed according to the 5:3:2 ratio of winning bids. TBEA won the bid for 3,800MW, Hewang won the bid for 2,280MW, and Huawei won the bid for 1,520MW.
PowerChina had 28 projects awarded in April, with a total capacity of 1,625.29MW. Sungrow, GoodWe, Rifeng Electric, Yuneng Technology, Jinlang Technology, Huawei, Hewang, Sineng Electric and other 17 companies won the bid, the details are as follows:
On April 7, the first batch of photovoltaic grid-connected inverter procurement public bidding projects of Guohua Investment of the National Energy Group in 2024 were awarded. The project purchased 400MW 3300kW and above box inverter all-in-one machine, and Kehua Data finally won the bid, with a unit price of 0.164 yuan/W.
In this statistical period, GE Technology and China Resources Group both awarded bids for one project, and Huawei became the final bidder.
On April 16, China Communications Construction Co., Ltd.'s Shanghai Zhenhua Heavy Industry-New Industry Division awarded the bid for the inverter procurement project of the 2024 operation and maintenance project, and the project purchased 2,210 sets of 8kW string inverters and 20 sets of 10kW inverters, and GoodWe finally won the bid.
In April, China Southern Power Grid had 5 projects awarded, and 5 companies including TBEA, Huawei, and Jinlang Technology became the final winners.
TBEA won the bid for 9 projects
The winning capacity was determined to be 3809.58MW
In this statistical period, TBEA ranked first in the bidding list, winning the bid for 9 projects (bid sections) of power construction, China Southern Power Grid, China National Nuclear Corporation, Three Gorges Corporation, Huadian and other enterprises, and determined the winning capacity of 3809.58MW.
Among them, the statistics of the international energy network/photovoltaic headlines show that the highest-priced winning project of TBEA in April is China Huadian Group Co., Ltd.'s first batch of inverter framework bidding bid section 4 in 2024: string inverters of 50kW and below. The procurement capacity of this bid section is 400MW, and TBEA is the third winning candidate, with a bid price of 49.92 million yuan, equivalent to a unit price of 0.125 yuan/W.
TBEA's lowest bid winning project is China Huadian Group Co., Ltd.'s first batch of inverter frame bidding bid 1 in 2024: string inverters of 200kW and above. The procurement capacity of this bid section is as high as 10GW, and TBEA is the first winning candidate, with a bid price of 983 million yuan, equivalent to a unit price of 0.098 yuan/W.
Hewang Electric won the bid for 9 projects
The winning capacity of 2,280MW was determined
In this statistical period, Hewang Electric ranked second in the bidding list, winning the bid for 9 projects (bid sections) of China National Nuclear Corporation, Power Construction, Three Gorges Corporation and other enterprises, and determined the winning bid capacity of 2280MW.
In April, Hewang Electric was shortlisted for three inverter centralized procurement projects of China National Nuclear Corporation and the framework procurement project of Three Gorges Corporation. Among them, the Three Gorges Group will focus on the second bid section of the photovoltaic inverter frame in 2024, with a procurement capacity of 7,600MW, and Hewang Electric will be the second winning bidder, with a winning share of 2,280MW.
Among the projects to determine the winning bid price, China Nuclear Group's 2024 photovoltaic inverter first-level centralized procurement project bid section 1 - pre-installed centralized inverter booster all-in-one machine procurement capacity of 200MW, Hewang Electric, as the third winning bidder, bid 35.52 million yuan, equivalent to a unit price of 0.178 yuan/W.
CNNC's 2024 PV Inverter Level 1 Centralized Procurement Project Bid Section 3 - Residential String Inverter Procurement Capacity of 400MW, Hewang Electric, as the sixth winning bidder, bid 67.364 million yuan, equivalent to a unit price of 0.168 yuan/W.
Huawei won the bid for 9 projects
The winning capacity was determined to be 2126.62MW
In this statistical period, Huawei won bids for 9 projects (sections) with a total capacity of 2,126.62MW, including Guangxi Investment Group, General Technology, China Resources, China National Nuclear Corporation, China Southern Power Grid, Three Gorges Corporation, and Power Construction.
According to statistics from the International Energy Network/PV Headlines, in April, Huawei identified the largest winning project as the second bid section of CTG's 2024 PV inverter framework centralized procurement. This lot procures 7600MW string inverters of 300kW and above. Huawei was the third winning bidder, with a share of 1,520MW.
In addition, Huawei was also shortlisted for CNNC Huineng's 2024 Inverter Centralized Procurement Package 2 and Package 3. Among them, Package 2 purchased string inverters of 300kW and above, with a capacity of 5GW, and Huawei was selected as the third winning candidate. Package 3 procures (20~150) kW and (3~20) kW residential string inverters with a capacity of 2GW, and Huawei is selected as the second winning candidate.
Sungrow won the bid for 15 projects
The winning capacity was 907.2MW
In this statistical period, Sungrow performed outstandingly, winning the bid for 15 projects (bid sections) of China National Nuclear Corporation, China Power Construction, Huadian, Zhongling Star Energy and other enterprises, and determined the winning bid capacity of 907.2MW.
Among them, Sungrow determined the winning price project for China Huadian Group Co., Ltd. in 2024 for the first batch of inverter frame bidding bid section 1: string inverters of 200kW and above. As the fourth winning candidate, Sungrow bid 1100000 yuan, equivalent to a unit price of 0.11 yuan/W.
China Huadian Group Co., Ltd.'s first batch of inverter frame bidding bid 2 in 2024: centralized inverter and box inverter booster all-in-one machine. The bid has a procurement capacity of 2000MW, and Sungrow, as the third winning candidate, bids for 262 million yuan, equivalent to a unit price of 0.131 yuan/W.
29 projects, with a tender capacity of 3.46GW
According to the statistics of the international energy network/photovoltaic headlines, compared with the bid-winning market, the inverter bidding market in April was slightly quiet. China Denso, China Resources, China Energy Group, China National Nuclear Corporation, China Southern Power Grid, Jinkai New Energy, Jingneng Group and other companies have released 29 bidding projects, with a total capacity of about 3.46GW.
On April 2, China Electrical Equipment Group Co., Ltd. issued a bidding announcement for the large-scale centralized procurement of photovoltaic inverters. The project is divided into 12 bid packages with a total procurement capacity of 1,695MW. Among them, the purchase capacity of high-power string inverters above 196kW is 1155MW, accounting for 68.14%. The purchase capacity of 15-110KW medium and low power string inverters is 540MW, accounting for 31.86%.
In addition, Jinkai New Energy also has a gigawatt-level procurement project in April, which is a centralized procurement project for string inverters in 2024. The project procures a capacity of 1GW and requires string inverters of 300kW and above.
In terms of equipment requirements, statistics from the international energy network/PV headlines show that the purchased capacity of string inverters in this statistical period was 3,034MW, accounting for 88%. The centralized inverter procurement capacity was 325MW, accounting for 9%.
Source: International Energy Network/PV Headlines