Latest news with #YanaHryshko
Time of India
10-06-2025
- Business
- Time of India
Adani makes global Top 10 as solar shipments double — but profits vanish
New Delhi: Global solar photovoltaic (PV) module shipments reached a record 500 gigawatts (GW) in 2024, nearly doubling the previous year's volume, while the top 10 manufacturers posted collective losses of USD 4 billion, Wood Mackenzie said in a new report. The consultancy's Global Solar PV Module Manufacturer Rankings report noted that the leading players faced declining revenues due to intense price competition and continued capital investment, despite increased shipment volumes. 'In many ways, 2024 was a year of survival through scale for the industry,' said Yana Hryshko , Head of Global Solar Supply Chain at Wood Mackenzie. 'Aggressive pricing, intense competition, and continued capital investment weighed heavily on margins as companies pursued long-term leadership in market share and technology.' According to the report, the top 10 solar module manufacturers accounted for 89 per cent of global module shipments and 62 per cent of production capacity. Jinko Solar led the rankings with a score of 90.6 out of 100, followed by JA Solar (89.6), and LONGi Green Energy (86.5). Indian firm Adani Solar ranked ninth with a score of 72.8. The other companies in the top ten were Canadian Solar, Trina Solar, DMEGC Solar, Astronergy, Boviet Solar, Risen Energy , Qcells, TCL Solar, and Tongwei. Despite challenging market conditions, the top manufacturers maintained an average utilisation rate of 69 per cent in 2024. The report highlighted growing diversification in production locations due to trade barriers and local content requirements. Seven of the top 10 companies now operate manufacturing facilities in at least three countries, including India, Cambodia, Malaysia, Mexico, and Vietnam. Expansion plans by several top 20 manufacturers include countries such as Egypt, Oman, Saudi Arabia, South Africa, Qatar, and the UAE. 'Establishing production across multiple countries allows manufacturers to navigate tariffs, local content mandates, and import barriers,' Hryshko added. The rankings also pointed to rising vertical integration, with several companies investing in wafer manufacturing to gain better control over supply chains and reduce reliance on third-party suppliers. 'Moving upstream into wafer production enables tighter control over cost, quality, and compliance,' Hryshko said. In terms of technology, N-type modules dominated 2024 shipments among leading manufacturers. Jinko Solar reported that more than 87 per cent of its shipments last year were N-type modules. TOPCon technology led among advanced technologies with average conversion efficiencies exceeding 24 per cent, while heterojunction (HJT) and back-contact technologies recorded efficiencies of 24 per cent and 25 per cent respectively. Looking ahead, Wood Mackenzie said the solar manufacturing sector will need to focus on balancing cost pressures with investments in innovation, vertical integration, and geographic diversification. 'Despite financial headwinds, the solar manufacturing industry is quickly repositioning for the next cycle of global growth,' Hryshko said.
Zawya
09-06-2025
- Business
- Zawya
World's top solar PV producers plan to open factories in Middle East: Report
Many of the world's top solar photovoltaic (PV) module manufacturers are expected to open production facilities in the Middle East region, according to Wood Mackenzie. These companies are likely to expand into Egypt, Oman, Saudi Arabia, Qatar, and the UAE, the global research consultancy said in its latest global solar PV module manufacturer rankings report. Although China continues to dominate the solar module manufacturing landscape in terms of scale, emerging challengers from India, South Korea, and Vietnam are rapidly closing the gap. Seven of the top 10 manufacturers now operate production facilities in three or more countries, including Cambodia, India, Malaysia, Mexico, and Vietnam. As solar PV module prices remain under pressure, manufacturers will need to strike a balance between cost reduction and ongoing investment in technology and geographic expansion. The industry's future will be shaped by continued expansion into the Middle East and Africa, efficiency gains across various technologies, rising consolidation through vertical integration, and evolving strategies to navigate trade policies and local market regulations. 'Despite financial headwinds, the solar manufacturing industry is quickly repositioning for the next cycle of global growth,' said Yana Hryshko, head of global solar supply chain at Wood Mackenzie. 'Technology leadership, supply chain control, and geographic agility will define the winners in the years ahead,' she said. (Writing by P Deol; Editing by Anoop Menon) (
Yahoo
07-05-2025
- Business
- Yahoo
US tariffs, Europe slowdown reshape global solar panels trade
By Sudarshan Varadhan SINGAPORE (Reuters) -Solar panel makers in Laos and Indonesia, mostly owned by Chinese firms, boosted their share in the U.S. market after steep tariffs hit exports from other Southeast Asian countries including Cambodia and Thailand, trade data showed. The U.S. government finalised steep levies on imports of solar cells and modules from Vietnam, Malaysia, Thailand and Cambodia in April, following two rounds of tariffs in June and November last year, to prevent dumping by mostly Chinese-owned factories in these countries. However, Chinese companies have moved their production to Indonesia and Laos and boosted exports to the United States, Reuters reporting showed. The combined share for Indonesia and Laos in the U.S. solar modules market rose to 29% in the three months after the second round of U.S. duties were imposed on neighbouring producers in late November, from less than 1% in 2023, a Reuters review of U.S. trade data showed. Analysts and industry experts say the southeast Asian capacities owned by Chinese companies were almost exclusively set up to sidestep tariffs and supply the U.S. markets at premiums to global prices, exposing the limits of Washington's trade interventions. Yana Hryshko, head of global solar supply chain research at consultancy Wood Mackenzie, said all solar manufacturing capacity in the four Southeast Asian countries hit with high tariffs would now likely "be shut down or reduced dramatically". CHANGING TRADE ROUTES Solar panel exports from Vietnam, Malaysia, Thailand and Cambodia to the U.S. fell by 33% on an annual basis in the nine months since the first round of tariffs in June. In the same period, exports from regional neighbours Indonesia and Laos grew around eight-fold, the trade data showed. Overall U.S. solar panel imports have fallen 26% since June, with the four countries' combined share of the market plunging from 82% in the full year 2024 to 54% in the three months following the second round of tariffs in late November. U.S. imports of solar cells, which can be assembled in the United States to create panels, have tripled since the first round of tariffs despite higher costs of imports from the targeted countries. However, Indonesia and Laos still ate into the market as their exports surged about 17-fold. Solar cells accounted for roughly 28% of all U.S. solar imports since the first round of tariffs, compared with 6.5% in 2023, the data showed. Chinese manufacturers are already revising export strategies due to concerns about tariffs on Indonesia and Laos, said Fei Chen, solar research analyst at consultancy Rystad Energy.
