Global index provider Morgan Stanley Capital International (MSCI) has upgraded Tongwei Co., Ltd.’s ESG rating for 2025 to BBB, up one notch from the previous year. According to Tongwei, in 2024, the renewable energy accounted for 64.01% of the company’s total electricity consumption, while water recycling and reuse reached over 98%. The company’s Scope 1, 2, and 3 carbon emissions decreased by 16% year on year, and total emissions of exhaust gas, wastewater, and solid waste dropped by more than 19%.
In 2024, Tongwei also signed the UN Women’s “Women’s Empowerment Principles” (WEPS) and launched its “Together to Win” sustainable development strategy, aimed at building a comprehensive sustainability management system.
China’s large-scale industrial solar cell output touches 619 GW
According to the National Bureau of Statistics (NBS), China’s large-scale industrial solar cell enterprises (with annual main business revenue of at least RMB 20 million) produced 70.87 GW of solar cells in September, a slight 1% year-on-year decline but up month-on-month from 69.86 GW in August. From January to September 2025, cumulative solar cell output reached 618.95 GW, up 14% year on year.
During the same period, China’s large-scale industrial enterprises generated a total of 7,255.7 TWh of electricity, a 1.6% increase year on year, including 436.3 TWh from solar power and 767.3 TWh from wind power, representing year-on-year growth of 24.2% and 10.1%, respectively.
Yanhe Solar secures over RMB 100 million in Series A Financing
Perovskite solar manufacturer, Yanhe Solar, has completed a Series A financing round exceeding RMB 100 million (USD 13.9 million), with investors including Orient Jiafu and others. In August 2025, the company completed and commissioned a 100 MW fully automated perovskite solar cell production line in Changde, Hunan Province, which it described as China’s first fully automated mass production line for consumer-grade perovskite solar cells.
Yanhe Solar’s current products are mainly used in consumer electronics, smart wearables, and portable energy storage. The company stated that the newly raised funds will be used to accelerate technology iteration and capacity expansion for its consumer-grade perovskite PV products.
Shandong sets 2025 PV mechanism tariff at RMB 0.225/kWh
The Shandong Provincial Energy Administration and Development and Reform Commission has announced the results of the 2025 renewable energy mechanism tariff bidding. This covers 1,175 solar PV projects with a combined AC capacity of 1.27 GW. Among these, 7 centralized PV projects account for 1.22 GW, while distributed PV projects total 45.71 MW. All PV projects will have 80% of their generation under the mechanism tariff, set at RMB 0.225/kWh (USD 0.031/kWh) for a 10-year term.
The province also released results for 25 wind power projects totaling 3.59 GW (AC), with a mechanism tariff of RMB 0.319/kWh (USD 0.044/kWh), also valid for 10 years.
