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

News provided by

Dec 02, 2024, 10:00 ET

SAN JOSE, Calif., Dec. 2, 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 Q4 2024. This prestigious ranking reflects Boviet Solar's ongoing commitment to excellence and was first achieved in 2017.

BloombergNEF, a leading authority on research and analysis in the transition to a low-carbon economy, employs a stringent tiering system to assess the bankability of PV module manufacturers. Achieving Tier 1 status requires manufacturers to supply their own-brand, self-manufactured products to at least six separate solar projects, each backed by non-recourse financing from six different banks within the last two years. These projects, with capacities of 5.0 MW or more, must be listed in the BNEF database with publicly accessible details about their location, size, developer, financial backers, and module supplier.

Scott Chen, VP of Global Sales and Marketing at Boviet Solar, remarked, "Maintaining our Tier 1 status reflects the trust our partners place in us and the strength of our product portfolio. It demonstrates that Boviet Solar remains at the forefront of delivering solutions that meet the highest standards of reliability and bankability."

Sienna Cen, President of Boviet Solar USA, stated, "This recognition is not just an accolade; it's a reflection of the hard work and innovation our teams bring to the table every day. As we continue to serve the growing demands of utility-scale and large commercial and industrial applications, we remain committed to quality, innovation, and collaboration with our valued partners."

BNEF's Tier 1 bankability rating serves as a vital benchmark for investors, developers, EPCs, and asset owners, offering a clear measure of a manufacturer's long-term stability and product dependability. This designation supports critical decision-making by guiding capital investments, supplier selections, and project implementation. By helping stakeholders evaluate performance, mitigate risks, and make well-informed choices, the Tier 1 rating promotes healthy competition and elevates 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

Boviet Solar is a leading solar technology company founded in 2013 in Vietnam, specializing in the manufacturing of high-performance Monocrystalline PV cells and high-quality Gamma Series™ Monofacial and Vega Series™ Bifacial PV modules for residential, commercial, industrial, community and utility-scale solar applications. Boviet Solar combines business acumen, financial stability, technological expertise, and manufacturing excellence to produce top-performing PV modules, while fostering mutual partnerships, ensuring sustainability, supply chain traceability, and compliance with international trade standards.

Boviet Solar has earned a reputation for excellence, holding Bloomberg New Energy Finance (BNEF) Tier 1 ranking, being recognized as one of the top 10 most reliable PV module manufacturers by Wood Mackenzie and Sinovoltaics, and consistently rated as a Top Performer in Kiwa PVEL's PV Module Reliability Scorecard, with successful manufacturing assessments conducted by Black & Veatch.

Boviet Solar's global headquarters is in Vietnam, with manufacturing facilities in both the USA and Vietnam, featuring an annual PV cell and PV module capacity of 3.0 GW, along with additional operations in the USA and Germany and other regional markets. For more information about our company and products, please visit www.bovietsolar.com

SOURCE Boviet Solar