Trina Solar Named as World’s Most Bankable PV Module Manufacturer by Bloomberg New Energy Finance
Trina Solar Limited , a global leader in photovoltaic (“PV”) modules, solutions, and services,recently announced that it has been named as the most ‘bankable’ PV module manufacturer globally by Bloomberg New Energy Finance (BNEF). In its survey of key PV stakeholders asked about 50 different module brands, 100% of respondents said that Trina Solar was bankable, confirming the Company’s leading position in the solar PV market.
The report (available through BNEF subscription) details the findings of a survey conducted by BNEF to identify which module manufacturers are most likely to obtain non-recourse debt financing by commercial banks. Survey participants, which were banks, technical consultants, engineering contractors, asset managers and independent power producers (IPPs) from all around the world, were asked which PV module brands they considered bankable by their own internal criteria, which is usually based on product quality and the manufacturer’s financial strength.
Trina Solar topped the list of 50 module manufacturers, being the only company that all survey respondents believed was bankable. The report also details how Trina Solar modules were used in more debt financed projects than any other manufacturer’s modules since the start of 2014, having secured funding for more than 1.2GW for 15 different projects tracked by the BNEF database. The BNEF database is not fully comprehensive, but contains almost 14,000 solar financings worldwide.
Commenting on the report findings, Teresa Tan, Chief Financial Officer of Trina Solar, said: “The findings from this report are highly positive and we believe that they come as further confirmation of our leading position in the industry around the world. Trina Solar prides itself on the sustainability and strength of its way of doing business and this latest acknowledgement of our leading bankability comes as an award for our efforts. We always strive to deliver bankable PV solutions that are innovative and that will provide the best returns for our customers. We have invested heavily, and will continue to invest, in the quality and performance of our PV modules to ensure that they can deliver the highest yields in the short and long term.”
“As a company we are fully committed to providing affordable, clean and sustainable renewable energy across the globe. This commitment has contributed to our success to-date. Trina Solar now stands as the largest manufacturer of PV modules in the world, and we fully intend to leverage our market-leading position as we pursue further growth both in established markets and emerging ones.”