BloombergNEF ranks LONGi 100% bankable in its 2022 report

XI'AN, China, Nov. 28, 2022 /CNW/ -- The BloombergNEF (BNEF) PV Module and Inverter Bankability report for 2022 has once again ranked LONGi as 100% bankable globally, based on the company's financial stability and capacity.

The ranking is based on BNEF's annual survey of those involved in the global solar industry regarding PV module brands and new technologies. Survey responses were sought from banks, funding institutions, engineering procurement and construction firms (EPCs), independent power producers (IPPs) and technical advisers from organisations involved in 557GW of financed capacity.

All respondents recognised LONGi's bankability and strongly endorsed the company's reliability. For developers, investors and asset owners, a range of metrics exist for assessing a manufacturer's bankability, particularly installed capacity and financial stability.

In terms of capacity in the field, the BNEF renewable asset database, containing details of over 40,000 PV assets, tracks module brands deployed in financed projects. LONGi has the largest module capacity for term-loan financed projects since 2020, currently standing at 4.7 GW.

In terms of financial stability, the financial health of a manufacturer is an important consideration for banks, with LONGi posting one of the two highest scores in the widely recognised Altman-Z metric used as a related measurement tool.

The BNEF survey also provides insights into new module technology, indicating 182mm to currently be the dominant size, third party experts suggesting that 182 makes it easier for manufacturers to source standardized components such as backsheets, glass, EVA and aluminium frames, with tracker compatibility also considered to be more straightforward.

In terms of solar cell technology, analysts predict that manufacturing capacity of TOPCon and HJT will increase over the next two years, without completely replacing p-PERC cells. Global technical consultants also issued certain risk warnings, including the possibility of increased UV degradation of high-efficiency cells. They were also concerned about TOPCon's PID and DH testing, stating that the industry needed to see more field performance of n-type cells and that there must be a clear economic incentive to switch to TOPCon or HJT.

LONGi has conducted comprehensive and in-depth research on various new cell technologies, and the products launched to the market have been fully evaluated and verified, which can effectively guarantee the high quality and stable performance of large-scale mass production products.

"We are delighted to once again be rated 100% bankable by BNEF, which represents a high level of global recognition for LONGi. As a leader in solar technology, the company prioritizes end-user value, maintaining operational stability and robust financial health, while continuing to focus on ongoing technical innovation," commented VP Dennis She.

About LONGi

Founded in 2000, LONGi is committed to being the world's leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.

Under its mission of 'making the best of solar energy to build a green world', LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com/en

SOURCE LONGi

Yiqin Du, [phone], [email protected]