India's Solar Capacity Quadruples in a Decade, Institutions Optimistic on Solar Exports, Solar ETF Puyin (159609) Benchmark Index Rises Over 2% Against the Trend

As of 10:27, the PV ETF Pudong Silver (159609) tracking the CSI Solar Industry Index increased by 2.16%. Among the top-weighted stocks, China Energy Engineering Group Electric Power Design Institute rose 17.0%, China National Solar Power rose 11.0%, Laplace rose 9.8%, Deye Holdings rose 7.1%, Robotech rose 6.8%, Longi Green Energy rose 1.8%, TCL Technology rose 0.2%, Sungrow Power Supply rose 4.1%, and Mawei Holdings rose 4.9%.

According to the new Power Generation Adequacy Plan released by India’s Central Electricity Authority, India expects to nearly quadruple its solar power capacity over the next decade; it is projected that by the end of the 2035-36 fiscal year, total installed solar capacity will reach 509 GW, compared to 140 GW as of January 2026.

Nanhua Futures pointed out that from the perspective of new energy and energy transition, the Middle East conflict will to some extent increase demand for distributed energy in various countries. This is because soaring energy prices may lead to a continued increase in the share of distributed power grids worldwide. As the core supply pillar of distributed green power, photovoltaics, together with wind power, will become the main growth drivers for distributed grids. The global energy transition trend is irreversible. The construction of new power systems and market-oriented reforms are ongoing. Thanks to technological iteration and cost advantages per kWh, photovoltaics have outstanding scene adaptability and scalability, making it a core track in energy structure transformation.

Statistics show that by 2025, cumulative photovoltaic module exports will reach $28.199 billion. CITIC Securities noted that photovoltaic export tax rebates will be canceled, and it is expected that the overseas price increase transmission for leading energy storage companies will proceed smoothly. Policies aimed at raising the threshold for going overseas and optimizing supply are expected to support high prosperity in overseas energy storage markets.

The CSI Solar Industry Index covers listed companies across the upstream, midstream, and downstream segments of the photovoltaic industry chain, including silicon materials, wafers, cells, modules, inverters, and photovoltaic supports. The index selects 50 representative stocks from the Shanghai and Shenzhen markets as samples, serving as an important measure of the overall performance of China’s photovoltaic industry. The top weightings are mainly industry leaders such as Longi Green Energy, Tongwei Co., TCL Zhonghuan, and Sungrow Power Supply.

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The PV ETF Pudong Silver (159609) is expected to become an efficient tool for investors to seize the global new energy revolution and focus on core assets in the photovoltaic industry, continuing to benefit from industry cycle recovery and technological breakthroughs.