Tata Power Solar becomes second Indian module manufacturer to achieve Tier 1 status

Tata Solar Power has joined Vikram Solar as one of only two Indian Tier 1 module manufacturers, as rated by Bloomberg New Energy Finance (BNEF).

The global tiering system by BNEF is a widely accepted industry evaluation metric, based on the performance, growth and bankability of PV manufacturing companies globally.

Assessed every quarter, BNEF employs a robust set of metrics to ascertain Tier 1 companies’ ability to execute different projects with high efficiency levels while also retaining the trust of various banks.

According to Tata Power Solar, BNEF’s recognition is a reward for the firm’s 27-year history of solar manufacturing. "Our focus on producing high quality modules has carved a niche for ourselves and made us one of the most bankable panel manufacturers in the country and globally," said Tata Power Solar CEO & executive director, Ashish Khanna. "Being rated as a Tier 1 manufacturer is commensurate recognition of our efforts, as multiple banks and investors have great comfort in working with a Tata group company."

Khanna added that Tier 1 recognition is becoming increasingly important in industries prone to being flooded with low cost, low quality products.

Globally, Tata Power Solar has shipped more than 840 MW of modules, and is present in more than 30 countries. Its current manufacturing capacity, according to recent data from Mercom Capital Group, is 300 MW for modules and 180 MW for cells.