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Trina Solar Sets New World Record for Solar Technology Efficiency

by THEFUTURE.TEAM

January 6, 2025

China’s Trina Solar (688599.SS) has achieved a groundbreaking milestone in solar technology, setting a new world record for conversion efficiency in its n-type fully passivated heterojunction (HJT) modules. The company announced the achievement on Monday, following certification by Germany’s Fraunhofer CalLab, a leading solar research institute.

A Leap Forward in Efficiency

In laboratory tests, Trina’s HJT modules demonstrated an impressive 25.44% efficiency. This refers to the percentage of sunlight converted into usable electricity, a key metric in solar technology. By enhancing cell efficiency, solar installations can be downsized while costs are reduced, offering a significant advantage in the renewable energy market.

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The technology behind the achievement, known as passivation, involves covering surface defects on solar cells to improve their performance. According to Professor Martin Green from the University of New South Wales, Sydney—whose lab previously held the efficiency record for decades—the result underscores the promise of HJT as a next-generation solar technology.

“In the long run, it’s all about efficiency,” Green said. “Even if some technologies are initially more expensive, costs tend to drop quickly as the industry adapts and scales up.”

Trina Solar’s Vision

Trina Solar’s Chairman and CEO, Gao Jifan, emphasised the company’s commitment to advancing passivated solar technology through ongoing research and development. “This achievement strengthens our leadership in solar technology, and we will continue to push the boundaries of innovation,” he stated.

The Future of HJT Technology

While HJT technology currently represents a small share of the market—estimated at 7% of high-efficiency solar cell capacity in 2024, rising to 9% by 2026—it holds significant potential. However, it faces stiff competition from TopCON (Tunnel Oxide Passivated Contact) technology, which is projected to dominate the market over the next five years.

This milestone not only represents a breakthrough for HJT technology but also sets a new benchmark for the photoelectric conversion efficiency of single-crystalline silicon solar cell modules, Trina noted in its statement.

As the race for efficiency continues, innovations like these are expected to play a crucial role in shaping the future of renewable energy.

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MENA Tech Index Fell 4.6% In July, But Outperformed Global Tech

by THEFUTURE.TEAM

August 25, 2026

The MAGNiTT Tech Index fell 4.6% in July, marking its second consecutive monthly decline as technology stocks weakened across global markets. MGTI closed the month at 165.24, down 4.76% in 2026 and 24.88% from its January 2025 peak.

Despite the decline, the index remained 65.24% above its January 2023 inception level. Its lower correlation with global technology benchmarks also limited its exposure to the broader technology sell-off.

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Saudi Technology Stocks Lead The Decline

Saudi technology companies accounted for much of July’s decline. Nice One fell 21.3%, Jahez dropped 17.2%, and Rasan declined 15.7%, while Talabat gave back part of its second-quarter recovery.

Only three of the index’s 15 constituents ended July higher. MGTI also underperformed regional equity markets, with Saudi Arabia falling 1.89% and Dubai declining 2.69% during the month.

MGTI Shows Lower Correlation With Global Tech

July marked a reversal in global technology stocks, with MSCI EM IT falling 12.81% and MSCI ACWI IT declining 5.64%. MGTI’s lower correlation with those benchmarks limited the decline, with a correlation of 0.36 to MSCI EM IT.

The index also has limited exposure to semiconductors and large-cap AI companies that have driven much of the recent global technology rally. Its performance therefore differs from the broader global technology cycle.

MGTI Remains Above Its 2023 Level

MGTI has gained 65.24% since its January 2023 inception despite its recent declines. The index entered August down 4.76% for 2026 and nearly 25% below its January 2025 peak.

The MAGNiTT Tech Index July 2026 Monthly Update includes constituent-level performance, regional and global benchmark comparisons, and data on correlation, beta and volatility.