Xiamen Topfence Technology Co., Ltd. is pleased to announce our development direction for 2024. Looking to the future, we are committed to vigorously developing overseas markets, especially the European market as our main core market.
Recent news updates show the growing potential of the solar industry in the European market. According to the latest statistics from the UK Department of Energy Security and Net Zero Emissions (DESNZ), as of the end of November 2023, the UK's cumulative photovoltaic power generation capacity has reached 15.6GW. This is an important milestone and reflects the growing installed capacity of photovoltaic power generation in the UK. The UK goes solar. In the first 11 months of 2023 alone, the number of new photovoltaic system installations reached 871MW, a significant increase compared with previous years.
Similarly, in Germany, grid operators expect to add 14.1GW of new solar capacity by 2023, with a focus on rooftop systems. With Bavaria expected to account for a large portion of the total installed capacity, Germany's cumulative PV installed capacity is expected to reach approximately 81.7GW by the end of the year. These developments highlight the continued growth and investment in solar across Europe, making it an extremely promising market for companies like ours.
At Xiamen Topfence Technology Co., Ltd., we recognize the huge potential of the European solar market and are committed to seizing this opportunity in 2024. We believe demand for solar power in Europe will continue to grow, driven by government initiatives, environmental considerations and the need for sustainable energy. As a company at the forefront of solar technology, we are pleased to contribute to this development and provide innovative solutions to meet the growing needs of the European market.
In line with our growth direction, we are strategically planning to expand our presence in Europe, leveraging the growing solar power capacity in countries such as the UK and Germany. Our goal is to build strong partnerships, explore new business opportunities, and launch our advanced photovoltaic systems to meet changing market needs. By aligning our focus with progressive trends in the European solar industry, we are confident in our ability to achieve substantial growth and make a meaningful impact in the region.
Entering 2024, Xiamen Topfence Technology Co., Ltd. is optimistic about the prospects of the European market. With the continent's continued commitment to renewable energy and significant investments in solar power, we believe our company's future is bright. We are excited to embark on this journey of expansion and innovation and are committed to playing a key role in shaping Europe's sustainable energy landscape.
All in all, the continued growth of solar power generation capacity in the UK and Germany, as well as the broader progress of the European market, enhances our confidence in exploring overseas markets, especially the European market. We eagerly look forward to the opportunities that 2024 will bring and are committed to realizing our vision of becoming the European solar industry leader. With unwavering dedication and pioneering spirit, we are ready to make a significant impact and contribute to a sustainable future for European energy.