PV EPC Bidding Broke 110GW

The year 2022 is the second year that the work related to the "3060" double carbon target has been fully rolled out, and the PV market boom continues to improve. The latest data from the National Energy Administration shows that in the first three quarters of 2022, the newly installed PV capacity in China was 52.6 million kW, including 17.27 million kW photovoltaic power stations and 35.33 million kW distributed PV.

At the same time, various photovoltaic projects quickly entered the stage of investment attraction and project bidding, tracking public information, from January to November, more than 110GW photovoltaic EPC projects started bidding, nearly 80GW photovoltaic EPC projects announced the winning results (only more than 10GW in the same period last year), among which the ground power plant about 56GW, Distributed PV projects (excluding county-wide) exceeded 10GW and county-wide distributed projects also exceeded 10GW.

Ground power station

Although the price of PV industry chain continues to remain high this year, and the construction cost remains high, the domestic PV construction still maintains the growth momentum. According to the publicly available data, the Polaris solar PV network has sorted out, since the beginning of 2022, About 403 development enterprises, such as National Energy Group, Three Gorges Group, Datang Group, Huaneng Group, Huadian Group, China National Nuclear Group and Guangdong Energy Group, initiated EPC bidding for more than 56GW ground power stations and confirmed the winning units.

Among them, National Energy Group initiated the highest scale of EPC bidding, 92 in total, about 13.424GW, followed by Three Gorges Group, Datang Group and Huaneng Group, 36, 49 and 33, respectively, with a scale close to 6GW. The bidding scale of Huadian Group, CNNC Group, Guangdong Energy Group, China Resources Power, CGN, China NENG Construction, and State Power Corporation ground power stations is also larger than GW.

From the perspective of the bidding, China NENG Construction and Power China Construction are still the big winners, winning nearly 60% of the projects, winning 91 and 92, respectively, with a scale of about 14.034GW and 13.424GW. In addition to the two major design institutions, TbeA, China National Nuclear Group, China Anneng and other enterprises also have their own gains.

Since the beginning of this year, silicon material prices remain high, leading to continued pressure on component companies, driving up EPC costs. From the North Star solar photovoltaic network carding bid price can also peek a little. As shown in the figure above, the average bid price of large EPC projects of photovoltaic power stations from January to November showed a straight upward trend, which increased from 3.17 yuan /W at the beginning of the year to about 4.3 yuan /W. The lowest and highest price appeared in July, and the highest price was 7.8 yuan. The project was the construction of the main photovoltaic field area (including collector line) of the 100MW project of the Yuguang Complementary Power Station Phase I of China Resources Xiantao Chen Chang. The lowest price is 2.33 yuan. The project is Huaneng Gaoqing Tangfang Pastoral Light complementary photovoltaic project (including modules).

From January to November, the average bidding price of small EPC projects of PV power stations fluctuated greatly, ranging from 1.03 yuan to 1.73 yuan /W. The lowest and highest prices also appeared in July, with the highest price being 4.2 yuan. The project was Huaiji Dagang 150MW agro-optical complementary Project of China Nengjian, and the lowest price was 0.17 yuan. The project is the main photovoltaic engineering construction of Huaneng Wushi 700 MW optical storage integration project.

Distributed PV (not county-wide)

Different from previous years, central and state-owned enterprises will enter the distributed photovoltaic field on a large scale, which also leads to a surge in the scale of distributed photovoltaic EPC bidding. According to publicly available data, through the review of Polaris Solar photovoltaic network, from 2022 to now, About 900 development enterprises, such as National Energy Group, Huaneng Group, Huadian Group, China Southern Power Grid, China Resources Power, State Power Investment, Guangdong Energy Group, Datang Group, etc., initiated EPC bidding for more than 10GW distributed photovoltaic power stations and confirmed the winning bidder.

Among them, China National Energy Group also initiated the highest scale of EPC bidding, with a total of 277, about 3.26GW, while Huaneng Group was the second, with a total of 76, with a scale close to 1.754GW. Huadian Group, China Southern Power Grid, China Resources Power, State Power Investment, Guangdong Energy Group, Datang Group, etc., also achieved success.

From the winning situation, the concentration of the winning enterprises of the distributed photovoltaic power station project is low. The two design institutes of China NENG Construction and Power China Construction are no longer "the largest", and local state-owned enterprises and private enterprises are the main winning enterprises.

From the winning price, as shown in the figure above, the average winning price range of large EPC of distributed photovoltaic power station (excluding the whole county) from January to November is 4.08 yuan /W -- 4.27 yuan /W. The highest price was 7.3 yuan in April. The project was 2.7MW self-use rooftop photovoltaic of Guodian Power Guoneng Jinjie Co., LTD., and the lowest price was 1.59 yuan in October. The project was 3.5MWp distributed photovoltaic project of Zhanjiang Runyang United Intelligent Manufacturing Co., LTD.

As shown in the figure above, from January to November, the average bidding price of small EPC of distributed PV power station (excluding the whole county) was between 1.92 yuan /W and 2.31 yuan /W. The highest price was 3.98 yuan in September. The project was the 22.56627 MW rooftop distributed PV project of Huaneng Jiangsu Energy Development Co., LTD., and the lowest price was in May. The price is 1.59 yuan. The project is the 3.5MWp distributed photovoltaic project of Zhanjiang Runyang United Intelligent Manufacturing Co., LTD.

County wide distribution

Since the beginning of this year, the whole county distributed photovoltaic project has been promoted rapidly. According to the publicly available data, through the sorting of Polaris Solar photovoltaic network, since the beginning of 2022, Huaneng Group, National Energy Group, Huadian Group, China National Nuclear Group and other development enterprises launched nearly 200 EPC bidding, more than 10GW county distributed photovoltaic projects and determined the winning units.

Among them, Huaneng Group initiated the highest scale of distributed photovoltaic EPC bidding in the whole county, with a total of 61 projects, about 3.759GW, while National Energy Group followed with a total of 25 projects, with a scale of about 1.236GW. Huadian Group, CNNC Group and Weifang Teda also acquired more than 500MW.

From the bidding price, as shown in the figure above, the average bidding price range of the county's large distributed photovoltaic EPC from January to November is 3.63 yuan /W to 4.01 yuan /W, the highest price is 5.43 yuan /W in October, the project is Qinghe County 280 MW agricultural light supplementary project, the lowest price is in June, the price is 2.65 yuan /W. The project is Jintang County distributed photovoltaic phase I project.

As shown in the figure above, the average bid price range of the county's distributed photovoltaic small EPC from January to November is 1.53 yuan /W -- 1.96 yuan /W, and the highest price is 3.99 yuan /W in July. The project has the highest price in October, and the price is 5.43 yuan /W. The project is the 280 MW agricultural light complementary project in Qinghe County, Huaneng, and the highest price is in July. The price is 3.99 yuan /W, the lowest price in September, the price is 1.05 yuan /W, the project is the whole county Pannan area Panzhou City 46.61MW roof distributed photovoltaic project.

BIPV Project

Since the beginning of this year, there are few public bidding projects of BIPV project. Tracking public information, there are 6 projects, all of which are from central state-owned enterprises such as Huadian Group, Henan Investment Group, National Energy Group, Xugong Group and Nanwang Energy. The winning enterprises are all private enterprises except Shenhua Engineering Technology Co., LTD.