China Solar Entering a Year of ‘Brutal’ Consolidation, GCL Says
- About 25% of polysilicon makers may fail in shake-out: co-CEO
- Overcapacity and price war are leading to industry failures
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China’s solar industry is entering the worst part of a consolidation phase as a price war and overcapacity lead to company failures, according to a major producer.
Even as solar demand increases with the acceleration of the global energy transition, the number of manufacturers will dwindle over the next 12 to 18 months, said Lan Tianshi, co-chief executive officer of GCL Technology Holdings Ltd., the world’s second-largest maker of the key material polysilicon.