Sungrow, the global leading inverter solution supplier for renewables, 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. Further as solar project sizes are growing bigger on tough climatic conditions, it requires significant capital investment with rigorous due diligence on supplier’s credibility and hence bankability of OEMs becomes a crucial aspect to evaluate.
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 team can offer responsive technical support, sales and 24/7 after-sale service globally.
Notably, the Company’s latest 1H financial report shows a 55.57% year-on-year growth in revenue and net income grew by 34.13% YoY, underlining a robust and preeminent performance in sustainable development.
The global solar market witnesses a proliferation as the LCOE is getting lower, thereby the project financing gets more paramount for increasing industry players. As one of the most credible third-party renewable energy research hubs, BloombergNEF’s inverter bankability survey offers the stakeholders noteworthy proof.