BLOOMBERG NEW ENERGY FINANCE RANKS BOVIET SOLAR AS A TIER 1 SOLAR MODULE MANUFACTURER

SAN JOSE, Calif., Aug. 27, 2024 /PRNewswire/ -- Boviet Solar Technology Co. Ltd. (Boviet Solar), a leading solar energy technology company specializing in monocrystalline PV cells and advanced Gamma Series™ Monofacial and Vega Series™ Bifacial PV Modules, is proud to announce its continued recognition as a Tier 1 PV module manufacturer by Bloomberg New Energy Finance (BNEF) for Q3 2024. This prestigious ranking reflects Boviet Solar's ongoing commitment to excellence and was first achieved in 2017.

BloombergNEF, a renowned provider of research and analysis on the transition to a lower-carbon economy, utilizes a rigorous tiering system based on bankability to differentiate among the multitude of PV module manufacturers in the market. To attain Tier 1 status, manufacturers must provide their own-brand, own-manufactured products to six distinct solar projects, each financed non-recourse by six different banks, within the past two years. These projects must be 5.0 MW or larger and tracked in the BNEF database, with publicly available details on project location, capacity, developer, bank, and module maker.

Scott Chen, VP of Global Sales and Marketing at Boviet Solar, stated, "Maintaining our Tier 1 ranking from BNEF is a testament to Boviet Solar's overall strength and our competitive advantage as a reliable and trusted partner in the solar energy industry. This recognition underscores our dedication to providing high-quality, bankable solar solutions."

Sienna Cen, President of Boviet Solar USA, added, "As demand for our PV modules grows in utility-scale and large commercial and industrial applications, our commitment to delivering best-in-class products and exceptional service is being recognized. We extend our sincere gratitude to our clients and partners for their continued trust and support."

BNEF's Tier 1 bankability rating is a critical benchmark for investors, developers, EPCs, and asset owners. It provides a reliable indicator of a manufacturer's long-term viability and product reliability, guiding capital allocation, supplier selection, and project execution. This rating helps stakeholders assess performance, manage risks, and make informed decisions, thereby fostering competition and promoting industry standards.

In addition to this accolade, Boviet Solar has also been ranked among the top 10 PV module manufacturers by Wood Mackenzie and recognized as one of the top 10 financially stable PV module manufacturers by Sinovoltaics this year. These rankings highlight Boviet Solar's exceptional performance, financial stability, and leadership in the global solar market.

About Boviet Solar

Founded in 2013 in Vietnam, Boviet Solar, is a leading solar technology company that specializes in the manufacturing of Monocrystalline PERC, TOPCon PV cells and Gamma Series™ Monofacial, Vega Series™ Bifacial PV modules, as well as solar project development. The company offers business, financial stability, technological know-how, manufacturing excellence, top-performing PV modules, supply chain transparency and strong environmental, social, corporate governance protocol and client relations based on mutual partnership. As of January 2024, Boviet Solar's annual PV cell and PV module manufacturing capacity is 3.0 GW. It has delivered a total of 6.2 GW since its inception and mainly focuses on the U.S. market.

The company works with EPCs, developers, installers, and contractors to deliver top-performing PV modules for utility-scale, commercial, industrial, and residential solar projects. With a proven track record of successfully working with many of the industry's leading players, Boviet Solar has been named as a global Top 10 PV Module Manufacturer by Wood Mackenzie as well as Sinovoltaics. Boviet Solar's PV Modules are known for their power, performance, and quality and have been rated as top performers on Kiwa PVEL's PV Module Reliability Scorecard since 2019. Black & Veatch successfully completed an independent assessment of Boviet Solar's manufacturing facilities in 2022. Boviet Solar's manufacturing facilities are located in Vietnam and in the United States, with additional offices in the U.S., Germany, and China, and its global headquarters in Vietnam. For more information about our company and products please visit www.bovietsolar.com

SOURCE Boviet Solar