HEFEI, China : Sungrow, the global leading inverter solution supplier for renewables, announced that it was rated “100% bankable” by BloombergNEF among inverter firms in its latest survey, demonstrating that projects using Sungrow inverters are more likely to obtain non-recourse debt financing from banks compared to other competitors.
The BloombergNEF bankability survey asked banks, developers and technical due diligence firms, which brands out of 17 inverter manufacturers they considered bankable. BloombergNEF is recognized by numerous international financial institutions as among the most credible third-party renewable energy research hubs, asked about bankability for inverters for the first time. Sungrow is one of the few inverter companies to be ranked as 100% bankable.
The survey highlights the creditworthiness and reliability of partnering with Sungrow considering comprehensive dimensions of evaluation, in particular, long-term warranties and insurance, local support and superior product quality. Notably, Sungrow has an industry-leading testing center certified by all major international certification bodies including TÜV Rheinland, TÜV SÜD, CSA, UL and CNAS. Sungrow inverters have passed over one thousand independent quality and reliability tests, a feat unmatched by the majority of inverter manufacturers.
“We are proud of being the preferred brand for customers, partners and financial organizations,” said Cao Renxian, Chairman of Sungrow. “Sungrow is providing state-of-the-art products with continued efforts on R&D. And we are establishing ourselves as the comprehensive service platform with a footprint across six continents.”
Notably, the currently released H1 financial report of Sungrow shows 14.56% year on year growth in revenue, indicating the Company’s robust drive to sustainable economy. The Company’s expansion internationally is particularly significant, now holding leading market positions in the Americas, Southeast Asia and elsewhere.
Sungrow Power Supply Co., Ltd (“Sungrow”) is a global leading inverter solution supplier for renewables with over 87 GW installed worldwide as of June 2019. 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 22-year track record in the PV space, Sungrow products power installations in over 60 countries, maintaining a worldwide market share of over 15%.