Wuxi Suntech Power Co., Ltd. (“Suntech”) has been ranked one of the world's most bankable PV module brands according to the Bloomberg New Energy Finance (“BNEF”) “2019 PV Module Bankability Report”. Suntech is the seventh most bankable PV brand worldwide in 2019, with its ranking having climbed 11 places since the 2018 report.
Suntech is in the list of Top 15 BloombergNEF's PV module bankability results and ranks Tier 1 by BNEF in the long term.
BNEF’s annual report ranks the bankability of brands based on the likelihood of PV projects receiving non-recourse loans from financial institutions when using modules from the specified company. In addition to its top 10 ranking in 2019, Suntech is now the world’s sixth most bankable PV module brand of all time. The brand was also listed in Bloomberg’s latest Tier 1 Solar Panel List.
“Since launching 19 years ago, Suntech has striven to deliver high-quality, reliable and cost-effective PV products. Our ranking demonstrates that we have strong financial footing and are a trusted partner for projects, providing long-term and stable returns on investment for our customers,” said Mr. He Shuangquan, President of Suntech.
As one of the most credible third-party research institutions in the new energy market, BNEF’s comprehensive report draws upon data from 25,455 PV financing projects globally across 57 PV module brands, as well as interviews conducted with quality control and technical experts. The report covers over 25GW of PV installed capacity worldwide and is frequently used by financial institutions in determining commercial credit. Suntech’s high ranking means solar project developers who choose Suntech modules have a greater chance of receiving financing for their projects.
BNEF’s report also features results from the 2019 PV Module Reliability Scorecard issued by DNV GL, the global authoritative certification body for the renewables industry. For the second consecutive year, Suntech was listed as “ Top Performer” due to its high efficiency and product reliability.
Suntech’s return to the forefront of the PV industry comes as a result of its growing global influence and rapid expansion in the past two years. In the first half of 2019 alone, Suntech has achieved a 43% increase in module shipments year-on-year and a 25% increase in operating income and overseas shipments accounted for almost 80% of all modules shipped. The cumulative historical shipments exceeded 20GW.
In addition, Suntech has invested in ongoing R&D to boost power output and efficiency. To date, Suntech has 500 patents including 87 patented inventions. Most recently, the manufacturer launched its flagship HIPower Max Series 440W Monocrystalline Multi-busbar Bifacial Half-cell Module in June 2019. By using a 158.75mm monocrystalline PERC cell together with a 78-cell large format, the module can lift power output to 440W while increasing generating capacity by over 20%.