BloombergNEF Awards Sungrow a 100% Bankability Rating for a
HEFEI, China, Aug. 28, 2020 /PRNewswire/ -- Sungrow, the global leading inverter solution supplier for renewables, announced that the Company was once again ranked "100% bankable" by BloombergNEF as per the latest survey of PV Module & Inverter Bankability 2020, becoming the only inverter supplier ranked "100% bankable" for two straight years. It demonstrates that banks are more likely to give non-recourse term loan to solar projects using Sungrow inverters, ensuring a favorable and steady return of investment for investors.
BloombergNEF surveys solar industry participants covering 32 banks, funds, solar engineering contractors, independent power producers and technical advisers from a global landscape. The report considering the manufacturers' capacity in the field, financial health, local support and service, the warranties and technical features as major indicators, is an essential reference for financial institutions in granting commercial credit and developers in choosing the inverter brand.
Sungrow attributes much of this honor to its continued efforts in fulfilling the mission of "Clean power for all". Given the industry's largest R&D team and 23-year proven track record, the Company keeps bringing forth cutting-edge product portfolios to meet the global surging demand. Its industry-leading testing centers certified by major international bodies like TÜV, CSA, UL and CNAS, guarantee prominent reliability. Sungrow's agile local teams offer technical support, sales and 24/7 after-sale services.
The Company's latest 1H financial report shows a 55.57% year-on-year growth in revenue, underlining a robust and preeminent performance in sustainable development.
The global solar market is witnessing a proliferation as the LCOE is dropping, thereby project financing is paramount for industry players. As one of the most credible third-party renewable energy research hubs, BloombergNEF's inverter bankability survey offers stakeholders noteworthy proof.
Sungrow Power Supply Co., Ltd ("Sungrow") is the world's most bankable inverter brand with over 120 GW installed worldwide as of June 2020. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters, with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial, and residential applications, as well as internationally recognized floating PV plant solutions. With a strong 23-year track record in the PV space, Sungrow products power installations in over 120 countries, maintaining a worldwide market share of over 15%. Learn more about Sungrow by visiting www.sungrowpower.com.