It demonstrates that banks are more likely to give non-recourse term loans to solar projects using Sungrow inverters, ensuring favorable and sustainable benefits for stakeholders.
BNEF has been releasing the Inverter Bankability Survey since 2019. During four years, Sungrow ranked first every year and was ranked 100% bankable three times — the only company to hit this record. In addition, Sungrow ranked highly with cumulative product installations in financed projects.
BloombergNEF surveys solar industry participants covering 28 banks, funds, solar engineering contractors, independent power producers, and technical advisers from a global landscape. The report, which considers the manufacturers' capacity in the field, financial health, local support and service, warranties, and technical features as major indicators, is an essential reference for financial institutions in granting commercial credit and developers in choosing the inverter brand.
“All participants considered Sungrow bankable this year,” the survey mentioned. “Sungrow continues to have a strong presence in the global inverter market for debt-financed projects.”
The honor hinges on Sungrow’s continued efforts in fulfilling the mission of “Clean power for all”. Given the industry's largest R&D team, the Company continues to offer robust PV inverter solutions to maximize investors’ return on investment. For instance, its latest flagship product, the modular inverter leads to the next-generation development of solar plants. The modular design combines the advantages of both string and central inverters. In addition, the Company’s SG350HX unleashes the innovation trend for 300kW+ string inverters, optimizing the project’s LCOE significantly.
“We are at the top of the market in different realms. For instance, Sungrow is also the No.1 inverter supplier with 47 GW of PV inverter shipments in 2021 according to IHS Markit now a part of S&P. As a dedicated and trustworthy trailblazer with a 25-year track record in the industry, Sungrow is poised to serve an increasing number of projects with reliable, hassle-free, and sustainable products and services,” commented Jack Gu, Senior Vice President of Sungrow.
