TimeWave Weekly Report on Electricity Industry - February 3rd to 9th

February 10, 2026
Latest company news about TimeWave Weekly Report on Electricity Industry - February 3rd to 9th

During the period from February 3rd to 9th, 2026, the following international news occurred:


1. China added 66.43 GW of new-type energy storage in 2025

Data from the China Energy Storage Alliance (CNESA) shows that China added 66.43 GW / 189.48 GWh of new-type energy storage capacity in 2025, bringing the cumulative total to 144.7 GW, a year-on-year increase of 52%. The average storage duration increased to 2.58 hours, with independent energy storage projects accounting for 58%. Inner Mongolia led in new capacity additions. Lithium iron phosphate (LFP) batteries continued to dominate the market (over 98%), while new technologies like sodium-ion and flow batteries began demonstration applications. In 2025, the winning bid price range for LFP energy storage systems (excluding behind-the-meter) was 391.14 - 913.00 RMB/kWh.

 

2. Bhutan to develop new solar, hydropower projects

Bhutan's Druk Green Power Corporation has signed a Memorandum of Understanding with India's Carbon Resources to jointly develop solar and hydropower projects with capacities ranging from 100 to 250 MW. The parties plan to advance the projects through a joint venture to be established in Bhutan, with a proposed financing structure of 70:30 debt-to-equity ratio. Bhutan aims to achieve a power generation capacity of 25 GW by 2040. The country's current capacity is dominated by hydropower (approx. 2.5 GW), with plans to add 5 GW of solar. Its first utility-scale PV plant of 17.38 MW was commissioned in July 2024.

 

3. India installs more than 2.08 million rooftop solar systems under PM scheme

Data from India's Ministry of New and Renewable Energy shows that the 'PM Surya Ghar: Muft Bijli Yojana' (Prime Minister's Solar Home: Free Electricity Scheme), launched in early 2024, has facilitated the installation of over 2.085 million rooftop solar systems, with central financial subsidies amounting to 147.7 billion rupees (approx. $1.6 billion). Gujarat leads with 515,000 installations, followed by Maharashtra and Uttar Pradesh. The scheme aims to provide subsidies to grid-connected residential households. Upon reaching its target of 10 million households, it is expected to generate 1 trillion units of renewable electricity over the system lifetimes, reducing approximately 720 million tons of CO2 equivalent emissions.

 

4. India wraps up 1.2 GW renewables-plus-storage tender at $0.069/kWh

India's Solar Energy Corporation of India (SECI) has concluded a tender for 1.2 GW of renewables-plus-storage projects, with the lowest tariff at 6.27 rupees (approx. $0.069) per kWh. Winning bidders include Serentica Renewables (600 MW) and AMPIN Energy (199 MW), among others. Projects must be equipped with storage systems to ensure a daily supply of 4.8 GWh of power during peak hours. They will follow a Build-Own-Operate model under 25-year power purchase agreements with SECI.

 

5. Indonesia’s solar capacity reaches 1.49 GW

Data from Indonesia's Ministry of Energy and Mineral Resources shows the country added 546 MW of new solar capacity in 2025, bringing the cumulative total to 1.49 GW. Growth was mainly driven by commercial and industrial rooftop PV, while utility-scale projects lagged due to slow procurement progress by the state utility, PLN. The share of renewables increased to 15.75%, still below the revised target of 17-19%. A rooftop PV quota program is set to open for 485 MW in January 2026, and the government is applying for an additional 400 MW. PLN needs to improve its tendering mechanism to advance large-scale projects.

 

6. Saudi Arabia could hit net-zero emissions by 2060, with 151 GW of solar

Research from Saudi Arabia's King Abdullah Petroleum Studies and Research Center indicates that to achieve net-zero emissions in the power sector by 2060, the country would need to deploy approximately 515.3 GW of renewables, including 151.3 GW of solar PV, occupying only 0.16% of its land area. Onshore wind, due to its larger land requirement per MW, would occupy about 94% of the total land needed. The study notes that achieving this goal requires comprehensive consideration of land, critical mineral supply, and costs, and allowing some residual emissions while relying on carbon removal technologies could significantly reduce system costs.

 

7. Armenia adds around 615 MW of solar in 2025

Armenia added approximately 615 MW of new solar capacity in 2025, bringing the cumulative total to 1.1 GW and achieving the 2030 target of 15% solar share ahead of schedule. The market is primarily driven by net metering policies, with self-generation users exceeding 50,000 and total capacity reaching 650 MW. Last year, the country commissioned its largest PV plant to date, the 62 MW Masrik 1. According to the national energy strategy, Armenia plans to increase wind and solar capacity to 2 GW by 2040, raising the renewable energy share to around 60%.

 

8. Bulgaria installs 1.4 GW of solar in 2025

Bulgaria added 1.416 GW of new solar capacity in 2025, exceeding the gigawatt mark for the third consecutive year, with cumulative capacity reaching 5.984 GW. Large-scale ground-mounted plants accounted for about 90% of the additions, driven mainly by project economics and bank financing support. Energy storage projects also grew rapidly, with several PV-plus-storage and standalone battery projects commissioned. New capacity additions are expected to reach 2.5 GW in 2026, although the current high PV module recycling tax could become a constraint. The commercial, industrial, and residential segments still hold development potential.

 

9. Spain deploys 1.13 GW of solar for self-consumption in 2025

Spain added 1.14 GW of new solar capacity for self-consumption in 2025, bringing the cumulative total to 9.3 GW, representing a slowed year-on-year growth of 3.7%. The industrial and off-grid segments performed robustly, adding 679 MW and 55 MW respectively. However, residential (229 MW) and commercial (176 MW) installations declined year-on-year, mainly due to the phase-out of tax incentives and reduced compensation for surplus grid feed-in. Spain needs to add an average of about 2 GW annually to meet the 19 GW target set in its National Energy and Climate Plan. Industry associations call for streamlined permitting and improved mechanisms for storage integration.

 

10. Finland adds 227 MW of utility-scale solar in 2025

Finland added a record 227 MW of utility-scale solar capacity in 2025, bringing the cumulative total to 352 MW. Among these, the 107 MW Utajärvi PV plant is the country's largest project to date. Benefiting from EU funding, several large projects are set to come online in 2026, including the over 200 MW Kalanti plant. However, the upcoming Land Use Act, which proposes strict zoning restrictions for PV projects over 50 hectares, could hinder future development. Additionally, low electricity prices and economic stagnation pose challenges to the market.

 

11. Spain secures major EU grant for 1 GW pumped storage project

The European Union has allocated €650 million through the Connecting Europe Facility to support 14 cross-border energy infrastructure projects. Spain's Aguayo II pumped storage project received the largest grant of €180 million. Developed by Repsol, the project will add 1 GW of capacity (bringing total capacity to 1.4 GW) and is planned for operation by the end of 2030, aiming to enhance renewable energy integration. Additionally, grid upgrades in Slovakia and between Bulgaria-Romania, as well as an underground hydrogen storage project in Germany, also received corresponding funding.

 

12. Italy installs 6.4 GW of solar in 2025

Italy installed 6,437 MW of new PV capacity in 2025, bringing cumulative installed capacity to 43.5 GW. Large-scale ground-mounted plants grew by 15%, contributing 3,412 MW, while residential and commercial/industrial installations slowed. Approximately 213,000 new systems were added throughout the year, a 25% decrease compared to 2024. The fourth quarter saw about 2.4 GW of new capacity due to the commissioning of several large projects. PV accounts for 52% of Italy's total renewable energy capacity, with paired storage systems also growing simultaneously.

 

13. US solar capacity overtakes wind

Data from the US Federal Energy Regulatory Commission shows that solar capacity has surpassed wind power to become the largest source of renewable electricity generation in the United States. As of November 2025, cumulative solar capacity reached 163.4 GW, compared to 160.9 GW for wind. Over the past 27 months, solar has been the primary contributor to new capacity additions. Solar is projected to surpass natural gas to become the second-largest source of power generation in the US by 2028. Renewables, including distributed solar, now account for over one-third of total US generating capacity.

 

14. Brazil curtails 20% of solar and wind output in 2025, with losses at $1.2 billion

Brazil curtailed 20% of its solar and wind generation in 2025, resulting in economic losses of approximately 6.5 billion reais (approx. $1.23 billion). Curtailment was mainly caused by surplus renewable generation, constrained transmission capacity, and demand mismatch, with the period from August to October being the most severe. The report noted that system operation approached safety limits on at least 16 days, with Sunday mornings being a peak stress period for the grid due to low demand coinciding with high solar and wind output. States like Minas Gerais formed a "curtailment triangle." The report recommends reforms such as time-of-use tariffs to enhance system flexibility.

 

15. Chile installs 1.1 GW of PV in 2025

Data from Chile's National Energy Commission shows the country added 1.127 GW of new PV capacity in 2025, bringing the cumulative total to 11.634 GW. Solar generation accounted for 31.1% of the nation's total electricity generation, with non-conventional renewable energy reaching a 50.8% share. Currently, 4.153 GW of renewable energy projects are under construction, with an additional 105.11 GW of projects in the environmental assessment phase, representing a total investment of approximately $26.487 billion.

 

16. Photovoltaics for salmon farms

Chilean fisheries company Ventisqueros, in collaboration with energy firms Copec and Luxmeter, has commissioned an off-grid PV-plus-storage system at the Quintupeu salmon farm in the Hornopirén area. The system includes a 48 kW PV array and 109 kWh of battery storage, aiming to reduce reliance on diesel generators. It uses flexible PV modules adapted to the marine environment. In its first month of operation, the system met about two-thirds of the electricity demand for photoperiod control and achieved several fully solar-powered days.

 

17. Senegal’s solar capacity hits 671 MW

Senegal's solar capacity has reached 671 MW, ranking third in West Africa, comprising 307.5 MW of utility-scale PV and 293.67 MW of residential PV. The country's electrification rate is 84%. Despite the Sangomar gas field coming online, large-scale PV-plus-storage projects are advancing, such as the 60 MW PV + 72 MWh storage project under construction by Axian. Senegal aims to increase the share of renewables to 40% by 2030 and achieve universal electricity access by 2029. Feed-in tariffs and net metering policies for solar are already in place.

 

18. Chad’s installed PV capacity hits 110 MW, supplying 37% of electricity

Chad's installed solar capacity has reached 110 MW, with utility-scale projects accounting for 63 MW. Solar generation supplies 36.7% of the nation's total electricity. The country's electrification rate is only 12%. The government plans to increase the share of renewables to 30% by 2030 and achieve a 90% electrification rate. Currently, around 350 MW of PV and storage projects are under construction or planned around N'Djamena, including the 50 MW Noor Chad plant. Disputes over oil revenue remain a major constraint on rapid solar deployment.

 

19. Africa installed 4.5 GW of solar in 2025, says Global Solar Council

A Global Solar Council report shows Africa added approximately 4.5 GW of new PV capacity in 2025, marking the fastest growth rate on record. South Africa (1.6 GW), Nigeria (803 MW), and Egypt (500 MW) were the top three markets. Utility-scale projects accounted for 56%, but the actual scale of distributed PV is underestimated. It is projected that Africa will add over 31.5 GW of cumulative new PV capacity by 2029. The report notes that high financing costs and a mismatch between private capital and the distributed market remain major constraints, calling for improved regulation and risk pricing to lower the cost of capital.

 

20. Australian renewables exceed 50% of power supply in Q4

Data from the Australian Energy Market Operator (AEMO) shows that renewables exceeded 50% of total power supply for the first time in Q4 2025, contributing to a nearly 50% drop in wholesale electricity prices. During the same period, coal-fired generation hit a quarterly low, and gas-fired generation fell to its lowest level in 25 years. Battery storage discharge increased nearly threefold, with rapid deployment of residential and utility-scale storage. In 2025, Australia ranked third globally in new battery capacity additions. It is projected that large-scale batteries will account for a greater share of the grid than natural gas by 2027.

 

21. Australia rooftop solar volumes fall 32% after four-month rebound

Australian rooftop PV installation volumes fell significantly by 32% month-on-month in January 2026 after four consecutive months of growth. Approximately 224 MW was added in the month, with the average system size decreasing from over 11.5 kW in December to 10.83 kW. The largest decline (57%) was in the 50-70 kW range, and installations fell month-on-month across all states. Market analyst SunWiz believes this drop aligns with seasonal patterns and does not yet signal an annual trend.

 

22. Germany, France, Netherlands curtail 3.9 TWh of renewables in 2025

Analysis by Montel Analytics shows that Germany, France, and the Netherlands collectively curtailed 3.9 TWh of renewable electricity generation in 2025, a record high. The three countries also set records for the number of hours with negative electricity prices last year. Curtailment was primarily due to rapid solar capacity growth leading to midday generation peaks, coupled with insufficient demand growth, storage, and flexibility. Germany curtailed 1.75 TWh, France 1.43 TWh, and the Netherlands 0.71 TWh. The report notes that this market-driven curtailment reflects structural characteristics of the current energy transition phase.

 

23. Global BESS capacity tops 250 GW, overtaking pumped hydro for first time

A Rystad Energy report shows that global operational battery energy storage system (BESS) capacity surpassed pumped hydro storage for the first time in 2025, exceeding 250 GW. Over 100 GW / 280 GWh was added in 2025, with additions expected to exceed 130 GW / 350 GWh in 2026. China, the United States, the United Kingdom, Australia, and Germany are the main markets. BESS is beginning to displace gas-fired generation; for instance, in Victoria, Australia, its generation already exceeds that of gas. Regarding costs, system prices in China have fallen as low as $150/kWh, but rising lithium prices and adjustments to export tax rebates may slow cost declines.