On May 31, The Seventh China Energy Industry Development Annual Conference, along with a sub-forum commemorating the 15th anniversary of China Energy News, the Middle East Energy Investment Forum, was held in Beijing. This forum was co-sponsored by China Energy News and AIM Global Foundation, focusing on the theme “Promoting Energy Science and Technology Innovation to Build a Financial and Industrial Platform.”
The event aimed to foster an exchange platform for investment, financing, innovation, and development between Chinese and Middle Eastern enterprises and institutions, promoting multilateral cooperation to enhance the energy production and finance ecosystem. James Jin, President of the MEA&CA region of LONGi Green Technology Co., Ltd., attended the forum.
James highlighted that, over the past decade, advancements in R&D and innovation have led to an over 89% reduction in the kWh cost of solar PV generation. He emphasized that China’s photovoltaic industry has progressed rapidly, establishing solar energy as the most competitive and sustainable green energy source. The global photovoltaic installation capacity has surged in the past two years, with an anticipated growth rate of 25%-29% over the next decade. In 2023, LONGi invested 5%-7% of its annual revenue into R&D.
LONGi recently announced a new record in silicon HBC solar cell efficiency at 27.30%, reaffirming its leadership in the global solar energy industry. The company also unveiled its Hi-MO 9 solar module in Madrid, Spain, featuring silicon solar module conversion efficiency of up to 24.43%. The Hi-MO 9, a solar module with capabilities of up to 660W based on HPBC 2.0 cell technology and the TaiRay wafer, can increase power generation income by 6.5%-8% over its lifecycle compared to other technologies, further reducing the Levelized Cost of Energy (LCOE) with its cutting-edge technology.
James emphasized LONGi’s deep involvement in the development of green energy in the Middle East, a region with significant potential for solar PV and hydrogen development. The Middle East enjoys annual sunshine of 2200-2300 hours and has vast desert areas with relatively low land costs. Its strategic geographical location and ports make it an ideal hub for exporting green energy to China, Africa, and Europe. Consequently, the development of ‘Green Power + Green Hydrogen’ presents substantial opportunities for enterprises in the MEA and China.
Since 2018, LONGi has been investing in hydrogen R&D and began manufacturing alkaline electrolyzers in 2021. LONGi now operates two factories in Xi’an and Wuxi, with a combined annual capacity of 2.5GW, the largest in the world. In March of this year, LONGi successfully delivered China’s largest single alkaline electrolyzer, with a capacity of 3000Nm³/h.
In conclusion, James stated that every step of innovation in the renewable energy industry made by LONGi will benefit Middle Eastern countries and Chinese industry players. The HPBC-based Hi-MO 9 module, in particular, offers world-leading power generation and surpasses other technologies in equal land-use scenarios. LONGi is confident that its innovative technology will significantly contribute to the energy transition in the Middle East region.
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