During the previous month’s SNEC exhibition in Shanghai, pv magazine engaged with Wanfei Qu, CEO and director of Skyworth Group (also known as Solavita in Europe), at the Chinese manufacturer’s impressive display. The firm employs the “Solavita” label in Europe, yet whether the brand is “Skyworth” or “Solavita”, it can capitalize on its robust foundation in manufacturing, electronics, and IT, built over a span of 37 years. Headquartered in Shenzhen, the manufacturer entered the solar PV market only in 2020, but in just four years, the company’s revenues related to PV surged from $10 million to $3 billion projected for 2024. The young CEO of Skyworth PV harbors ambitious aspirations for the future, aiming for $1 billion in overseas PV revenues within the next three years. Germany and Italy are identified as the company’s focal markets in Europe.
SKYWORTH, a leading electronics powerhouse in China, was placed 272nd in the Fortune China 500 in 2024, generating global revenues of US$1 billion last year. It is the fifth-largest television manufacturer globally and ranks third in that sphere in its home market, China. The SKYWORTH Group employs 30,000 individuals across China and internationally, with 2000 belonging specifically to the SKYWORTH PV sector.
Nonetheless, the solar segment is escalating rapidly. They have already attained the position of number 2 for distributed PV branding in China, and SKYWORTH PV achieved the milestone of 25 GW in PV installations. This success motivated Ms. Qu and other senior figures within SKYWORTH PV management to consider international expansion.
Reflecting on SKYWORTH’s initial venture into PV in 2019, Qu articulated: “Five years ago, in 2020, we entered the PV marketplace. However, prior to this, fifteen years ago, notably in 2010, we began producing electric vehicles. This positioning allowed us to transition into the solar PV sector seamlessly. We grew familiar with the industry and its dynamics. After a decade in electric vehicle manufacturing, our founder concluded it was an opportune moment to venture into solar.”
They foresaw President Xi’s decarbonization initiative in 2020, following the Chinese President’s announcement of the country’s 2030 peak-carbon and 2060 carbon neutrality objectives. As a solar and energy storage EPC, they are less upstream-focused than typical Chinese cell and module manufacturers, offering downstream solutions with their EPC profile while simultaneously possessing the manufacturing expertise and technology to complement it.
At last month’s SNEC, pv magazine also participated in a signing event involving the Chinese PV firm Aiko and SKYWORTH PV. Aiko has established itself in the PV sector for its high-efficiency back-contact (BC) modules, and the two manufacturers are collaborating in China to incorporate Aiko’s BC technology into SKYWORTH PV’s offerings in mainland China. The alliance announced at SNEC entails a 5 GW joint venture to produce high-efficiency BC modules. SKYWORTH PV already manufactures its inverters, battery storage solutions, mounting systems, and modules, but on the panel front, it is partnering with leading vendors to deliver top-of-the-line high-efficiency solutions for its clientele. In China, SKYWORTH PV’s role is that of EPC and equipment supplier, with ownership of the PV assets often held by a third-party investor.
As Ms. Qu articulated at SNEC, these investors also exhibit interest in international projects. In Thailand, one of the four nations highlighted by Ms. Qu for overseas expansion, SKYWORTH PV is actively establishing a $500 million fund to invest in PV projects within that region. In another targeted Asian country, the Philippines, solar project return-on-investment spans just three years, particularly for utility-scale PV power plants. The island nation’s elevated electricity costs, the highest in Asia, render it a desirable market for investors.
In Europe, SKYWORTH PV (also branded Solavita) can tap into its powerful TV business, with Germany and Italy identified as the primary European TV markets for the manufacturer. Furthermore, SKYWORTH acquired the high-end German consumer electronics firm Metz a decade ago, encompassing a factory in Germany with a workforce of 200 individuals. Hence, the company is already integrated into German and other European households and can incorporate other appliances it manufactures, including refrigerators and air conditioners, to offer unified clean energy solutions manageable centrally by users, perhaps through a smartphone app. As e-mobility adoption rises across Europe, SKYWORTH’s EV expertise and technology will feature in this integration.
Ms. Qu is a youthful female leader with a global perspective, having resided for significant periods in both Asia and North America. She communicates fluently in English and aspires for SKYWORTH’s users to experience an enhanced quality of life. While she takes pride in the 400 million products that the company has dispatched since its inception 30 years ago, her vision is more expansive, aiming to enrich the lives of individuals utilizing SKYWORTH products and solutions, whether in her homeland or in more distant markets.
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