Sungrow Bags 100% Bankability for a Second Year From BNEF

Sungrow has once again been ranked “100% bankable” by BNEF as per its latest survey of PV Module & Inverter Bankability 2020. The firm has also completed delivery for South Korea’s largest hybrid plant.

Sungrow, one of the leading global inverter solution suppliers for renewables, has announced that it has once again been ranked “100% bankable” by BloombergNEF (BNEF) as per its 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 loans to solar projects using Sungrow inverters, ensuring a favourable and steady return of investment for investors.

BloombergNEF’s inverter bankability survey results || Image provided by Sungrow

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.

In its press statement, the firm attributed much of this honour 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 centres 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 percent year-on-year growth in revenue, underlining a robust and preeminent performance in sustainable development.

The firm has also reported that it supplied a 93 MWac project with its outdoor central inverter solutions. The project recently put into commercial operation, is in Yeongam, South Jeolla province, South Korea. It is noteworthy as one out of the only two solar projects of approximate 100 MW capacity in the country, and milestone application as of the largest hybrid energy systems in the region.

Located in a 2.96 million square meters mountainous site in Daemyeong, Yeongam, about 340 km south of Seoul, the PV project is a part of the largest hybrid energy system integrating PV, wind and energy storage in South Korea, featuring agility within a complicated landform and high humidity environment.