BloombergNEF Awards Sungrow 100% Bankability Rating in 2022

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• USA - English

HEFEI, China, Nov. 18, 2022 /PRNewswire/ -- BloombergNEF (BNEF) has published the results of its 2022 PV Module and Inverter Bankability Survey. Sungrow became the only inverter supplier ranked "100% bankable" this year and maintained its status as the most bankable inverter brand for four consecutive years. 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.

About Sungrow

Sungrow Power Supply Co., Ltd. ("Sungrow") is the world's most bankable inverter brand with over 269 GW installed worldwide as of June 2022. Founded in 1997 by Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial & industrial, and residential applications, as well as internationally recognized floating PV plant solutions, NEV driving solutions, EV charging solutions and renewable hydrogen production systems. With a strong 25-year track record in the PV space, Sungrow products power over 150 countries worldwide. Learn more about Sungrow by visiting www.sungrowpower.com.

SOURCE Sungrow Power Supply Co., Ltd.