BNEF surveys photo voltaic {industry} individuals overlaying 32 banks, funds, photo voltaic engineering contractors, unbiased energy producers and technical advisers from a world panorama. The report, which considers the producers’ capability within the subject, monetary well being, native help and repair, the warranties and technical options as main indicators, is a necessary reference for monetary establishments in granting industrial credit score and builders in selecting the inverter model.
The goal is to evaluate which module manufacturers utilized in initiatives are most certainly to acquire non-recourse debt financing from industrial banks. Survey respondents included banks, funds, photo voltaic engineering contractors, unbiased energy producers and technical advisors from all around the globe.
The survey investigated foundation parameters akin to product high quality, long run reliability, subject deployment efficiency, and the producer’s monetary energy.
LONGi (and its services) was rated by 100% of survey respondents as absolutely bankable with the corporate highlighted as a high photo voltaic model in term-loan financed initiatives.
Inverter answer provider Sungrow was once more ranked 100% bankable within the newest PV Module & Inverter Bankability 2020 survey, changing into the one inverter provider ranked 100% bankable for 2 straight years.
The survey highlighted the truth that photo voltaic initiatives utilizing Sungrow inverters have been in a position to entry non-recourse time period loans from banks, guaranteeing a positive and regular return of funding for traders, with LONGi modules additionally in a position to safe long-term debt financing with larger ease.
A key discovering of the report, is that bifacial modules (that are the lead merchandise provided by LONGi) have been ranked as extremely bankable by all survey respondents, exhibiting that bifacial know-how has emerged as a normal within the international photo voltaic {industry}.
LONGi’s bankability within the survey rose quickly from a ranking of 67 % in 2018 to 100% in 2020, reflecting not solely the corporate’s improved complete energy but additionally recognition of the model by prospects everywhere in the world.
Key components which have contributed to LONGi’s success embody steady efforts by the corporate in advancing know-how, enhancing product high quality and effectivity, and its enterprise philosophy of “increasing manufacturing solely with main merchandise”, which dictates that every new capability is matched to new improve of product know-how.
Sungrow attributes a lot of its success to its continued efforts in serving to to offer “Clear energy for all”. The corporate boasts the {industry}’s largest R&D workforce and it has a confirmed 23-year monitor document. Sungrow focuses on the event of cutting-edge product portfolios to satisfy the worldwide surging demand. With the intention to obtain this, the corporate operates industry-leading testing centres licensed by main worldwide our bodies like TÜV, CSA, UL and CNAS, which assure outstanding reliability. In the meantime, Sungrow additionally deploys agile native groups providing technical help, gross sales and 24/7 after-sale providers.
Sungrow’s newest H1 monetary report reveals a 55.57 % year-on-year development in income, underlining a strong and preeminent efficiency in sustainable improvement.
In its Q3 2020 World PV Market Outlook report, BNEF rated LONGi essentially the most financially safe photo voltaic producer with the best Altman-Z rating amongst pure play photo voltaic producers. Bankability, as outlined by BNEF, refers back to the willingness of a financial institution to offer a time period mortgage to a mission that makes use of a selected module model. This partly is quantified by way of Altman-Z rating, which measures a producer’s monetary stability. The upper the rating, the extra financially sturdy an organization is and therefore, the higher the bankability. BNEF 3Q-2020 report rated LONGi an Altman-Z rating of three.27, the best on this planet amongst all photo voltaic manufacturing firms.
LONGi has the most important annual capability of PV Module Producers assembly BNEF’s Tier 1 Standards in 3Q-2020. BNEF defines Tier 1 manufacturers as these which have equipped initiatives backed by at the very least six industrial banks within the final 2 years. The principle criterion is bankability. LONGi is listed in BNEF 3Q 2020 World PV Market Outlook as a Tier 1 producer with the best annual capability of 20,000 MW/ 12 months.
Alongside being the most important international module producer, LONGi can be the most important wafer producer. The BNEF report highlighted the corporate’s profitable and forward-looking technique to mitigate provide chain dangers generally encountered by gamers within the sector. An instance is the continuing polysilicon crunch, which, although non permanent, has been painful for a number of downstream producers. LONGi has been profitable in managing to beat this downside by securing its uncooked materials provide for a for much longer time period.
“As one of many main international PV know-how firm, we’re delighted to be rated as essentially the most bankable module model with the best Altman-Z rating” stated Dennis She, VP of LONGi Photo voltaic. “It is a recognition of the facility era efficiency, reliability and development of LONGi’s PV modules. It’s also an affidavit to the excellent efforts of LONGi workforce and our prospects’ confidence in LONGi’s know-how management. LONGi is dedicated to pushing ahead the lower of the LCOE whereas enhancing its module bankability within the photovoltaic {industry} by way of steady innovation. We imagine that high-quality merchandise will assist our prospects in addition to their traders maximize returns.”
LONGi focuses on growing and delivering excessive effectivity, excessive reliability and high-quality modules, taking the lead, for instance, in large-scale utility of high-efficiency PERC know-how and selling its industrial utility, quickly enhancing product effectivity and tremendously decreasing the levelised price of power. Mono-crystalline PERC modules produced by LONGi have ranked first within the international gross sales for a few years.
The corporate has established an entire customer support commonplace for all its prospects, absolutely committing to best-in-class service. It has additionally maintained its means to handle dangers and deal with market adjustments, giving precedence to its monetary well being and operational energy.
Venture financing is paramount for {industry} gamers as the worldwide photo voltaic market expands as a result of falling levelised price of electrical energy (LCOE). As probably the most credible third-party renewable power analysis hubs, BloombergNEF’s inverter bankability survey presents stakeholders dependable proof of product effectivity and firm bankability.
For extra info:
LONGi Photo voltaic
Sungrow
