May 25, 2023 03:46 PM

Top Solar Firm Warns Excess Capacity Risks Wave of Failures

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Photo: Bloomberg
Photo: Bloomberg

(Bloomberg) — China’s world-leading solar industry could face a wave of bankruptcies if the current aggressive expansion of manufacturing capacity continues, according to the sector’s biggest player. 

More than half of China’s solar manufacturers could be forced out in the next two to three years because of excess capacity, Li Zhenguo, president of Longi Green Energy Technology Co., said during an interview Wednesday on the sidelines of the SNEC PV Power Expo in Shanghai. 

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