中国光伏“卷”到中东

Core Viewpoint - Chinese photovoltaic companies are increasingly establishing manufacturing bases in the Middle East, driven by the region's strong demand for energy transition and favorable policy environment, but this trend may lead to overcapacity and intense competition in the market [6][19][20]. Group 1: Company Developments - Hongjun New Energy has signed a cooperation agreement with Saudi partners to build a 6GW high-efficiency heterojunction component production base in Saudi Arabia, marking the company's first overseas factory [6][7]. - Since 2025, at least 15 Chinese photovoltaic companies have announced overseas manufacturing plans, with total investments exceeding 20.4 billion yuan, primarily in the Middle East [7][8]. - Other companies, such as Xinyi Glass and Yamaton, are also planning to establish production facilities in the Middle East, indicating a broader trend among both leading and smaller firms [11][14]. Group 2: Market Dynamics - The total planned photovoltaic capacity in the Middle East and surrounding areas is approximately 276.6GW, raising concerns about potential overcapacity and intense competition [8][20]. - The Middle East is becoming a new hotspot for Chinese photovoltaic companies due to its geographical advantages and the lack of trade barriers with the US and Europe, making it strategically valuable for exports [19][20]. - The region's energy transition needs, particularly in oil-rich countries like Saudi Arabia, are driving demand for solar energy, with significant government support for local capacity building [19][20]. Group 3: Industry Challenges - The photovoltaic glass industry is facing severe overcapacity and price pressures, prompting manufacturers to seek opportunities abroad as a survival strategy [15][17]. - The influx of Chinese companies into the Middle East could lead to a scenario similar to Southeast Asia, where previous trade investigations have negatively impacted Chinese firms [24]. - There is a need for the Chinese photovoltaic industry to shift its focus from merely increasing production capacity to enhancing value through technology and brand differentiation [22][24].