LONGI Solar named Tier-1 Module Maker in Q4: BNEF Report

LONGI Solar has announced that it has been named tier-1 module manufacturer in the Bloomberg New Energy Finance’s (BNEF) fourth quarter 2018 report.

BNEF’s criteria require module manufacturers to have supplied own-brand, own-manufacture products to six different projects over 1.5MW that have been financed by six different banks in the past 2 years.

Moreover, manufacturers in China, India and Turkey are subject to a more stringent rule that requires the project to be non-recourse, which means the bank undertakes the risk in the event of the modules failing. LONGi met all criteria and is joint fifth in the list in terms of in-house manufacturing capacity.

Commenting on the achievement, LONGi Solar, President, Li Wenxue said, “We are delighted, but of course not surprised, to be named in BNEF’s Tier-1 supplier.”

“Consistently meeting and exceeding the bankability requirements for a range of investors is a must for any serious manufacturer, particularly as LONGi looks to further develop its international reach,” Wenxue added.

The report also updated the Altman-Z ratio of solar module manufacturers that measures the company’s financial security. The test predicts the probability of a manufacturer going bankrupt in the next two years. LONGi was ranked the most secure company in Asia and second of all PV manufacturers worldwide.

While BNEF’s Tier 1 and Altman-Z are strong indicators of a manufacturer’s bankability, quality and reliability require a different measure. In its fourth annual PV Module Reliability Scorecard Report 2018, DNV GL, named LONGi Solar a “Top Performer” for module reliability.

DNV GL awards are based on 4 stringent PV module reliability laboratory tests, comprising: thermal cycling, damp heat, dynamic mechanical load and potential induced degradation. The company has received “Top Performer” in all four tests categories.