LONGi Solar named Tier-1 Module manufacturer in Q4-2018 Bloomberg New Energy Finance Report on November 30th, 2018
- LONGi in selected 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, ranked the second worldwide.
Xi’AN, China, Nov. 30, 2018 /PRNewswire/ — Bloomberg NEF’s criteria require Tier 1 module manufacturers to have supplied their own-brands, own-manufacture products to six different projects, which are over 1.5MW and 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, which are comprised by thermal cycling, damp heat, dynamic mechanical load and potential induced degradation. LONGi Solar received “Top Performer” in all four tests categories.