During the dialogue, Mr. Zhong Baoshen noted that with the signing of the Memorandum of Understanding on Deepening Cooperation in the Implementation of the Free Trade Agreement between China and Australia in June 2024, bilateral economic and trade relations have entered a new phase. "This has directly reduced equipment and construction costs for Australian solar projects, accelerating the deployment of photovoltaic applications," Mr. Zhong Baoshen stated. He added that LONGi is fully supporting Australia's target of achieving 82% renewable energy in its electricity mix by 2030 through its high-efficiency Back Contact (BC) modules and Building-Integrated Photovoltaics (BIPV) products. Data shows that in 2024, renewables already accounted for 46% of Australia's electricity supply, with solar power contributing 19.6% (46.7 TWh), a role in which Chinese PV companies have played a key part.
In his remarks at the Boao Forum, Mr. Zhong Baoshen, systematically elaborated on LONGi's latest integrated "Solar-Storage-Hydrogen" strategy to Australian partners. He emphasized that facing the challenges of grid integration in Australia and the systemic nature of the energy transition, single photovoltaic products alone cannot meet future demands. To address this, LONGi has constructed a "stable triangle" energy architecture centered on photovoltaics, energy storage, and hydrogen.
Mr. Zhong Baoshen explained that within this system, photovoltaics act as the "creator" of clean energy, lowering the levelized cost of electricity through high-efficiency technology; energy storage serves as the "stabilizer" for the power system, coordinating with green power trading to support stable grid operation and address solar intermittency; hydrogen functions as the "regulator" for long-duration, cross-seasonal energy storage and industrial decarbonization, capable of extending into hard-to-abate sectors where Australia has traditional advantages, such as shipping and mining smelting.
"LONGi has completed its strategic upgrade from a global photovoltaic leader to an integrated 'Solar-Storage-Hydrogen' comprehensive energy solution provider," Mr. Zhong Baoshen stated. He noted that just this month, leveraging its exceptional bankability, LONGi was simultaneously included in BloombergNEF's (BNEF) Tier 1 list for both PV and Energy Storage for the first time. This signifies that its energy storage business has entered the global top tier from the outset, and its 'Solar-Storage-Hydrogen' synergistic strategy has gained significant recognition from international markets.
Regarding China-Australia cooperation in the Environmental, Social, and Governance (ESG) sphere, Mr. Zhong Baoshen expressed support for establishing unified green standards between the two countries and advocated for jointly promoting the implementation of ESG financial instruments, such as green bonds and carbon credit mechanisms, to provide long-term financial support for renewable energy projects.
Technological innovation remains the key link in LONGi's deep engagement with Australia. Mr. Zhong Baoshen emphasized LONGi's long-standing collaboration with the University of New South Wales (UNSW). As early as 2018, both parties signed a strategic cooperation agreement to conduct in-depth research in areas like high-efficiency PV technology and renewable energy system optimization. The "Solar Cell Efficiency Tables," led by Professor Martin Green, often called the 'father of solar power,' have repeatedly included world records set by LONGi. Looking ahead, LONGi will continue to deepen this technical cooperation and explore combining photovoltaics with Australia's significant green hydrogen resource potential.
Australia is currently advancing towards its 2030 target of 82% renewable energy, requiring an estimated annual addition of 7.2 gigawatts of new renewable and gas-fired generation capacity. Mr. Zhong Baoshen stated that LONGi will not only support local utility-scale and distributed market growth with high-efficiency products but also, leveraging its full-value-chain "Solar-Storage-Hydrogen" strategy, provide the Australian market with full-scene solutions covering power generation, storage, and consumption. This aims to assist Australia's strategic transition from traditional energy sources to green energy, injecting robust green momentum into the construction of a regional open economy.
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