Photovoltaic and recombination characteristics of new generation bifacial solar cells are demonstrated. The cells were fabricated using 6" pseudo square wafers of 5 to 6 .cm single crystalline Cz p-Si. Their front efficiency is exceeding 20 % with back to front short circuit current ratio 89 - 92%. The design is characterized by high bulk minority carrier lifetime above 0.5 ms, not degraded during the fabrication process. Rear p+ layer was prepared by controllable doping process using preliminary deposited thin B contained solid layer. Effective back surface recombination is below 10 cm/s. Measured implied Voc values of the PERT structure exceeding 700 mV are evidencing the intrinsic potential of the structure to provide the cell efficiency far exceeding 22 %. Textured front surface in combination with smoothly etched back provides effective light trapping. The equivalent efficiency of a bifacial solar cell, which characterizes its energy generation capability, will achieve values in the range 23 – 27 % as a function of use conditions.