LONGi Solar named Tier-1 Module manufacturer in Q4-2018 Bloomberg New Energy Finance Report
– LONGi in select group of PV Manufacturers meeting BNEF’s Tier 1 criteria
– DNV-GL recognizes LONGi as “Top Performer” in their PV Module reliability Scorecard 2018
– LONGi ranked as the most financially stable PV manufacturer in Asia, second worldwide.
Bloomberg NEF’s criteria require module manufactueres to have supplied own-brand, own-manufacture products to six different projects over 1.5MW that have been financed by six different banks in the past 2 years. Moreover, manufacturers in China, India and Turkey are subject to a more stringent rule that requires the project to be non-recourse, which means the bank undertakes the risk in the event of the modules failing. LONGi met all criteria and is joint fifth in the list in terms of in-house manufacturing capacity.
“We are delighted, but of course not surprised, to be named in BNEF ‘sTier-1 supplier,” said Li Wenxue, President of LONGi Solar. “Consistently meeting and exceeding the bankability requirements for a range of investors is a must for any serious manufacturer, particularly as LONGi looks to further develop its international reach.”
The report also updated the Altman-Z ratio of solar module manufacturers that measures the company’s financial security. The test predicts the probability of a manufacturer going bankrupt in the next two years. LONGi was ranked the most secure company in Asia and second of all PV manufacturers worldwide.
While BNEF’s Tier 1 and Altman-Z are strong indicators of a manufacturer’s bankability, quality and reliability require a different measure. In its fourth annual PV Module Reliability Scorecard Report 2018, DNV GL, named LONGi Solar a “Top Performer” for module reliability. DNV GL awards are based on 4 stringent PV module reliability laboratory tests, comprising: thermal cycling, damp heat, dynamic mechanical load and potential induced degradation. LONGi Solar received is “Top Performer” in all four tests categories.