BloombergNEF gives LONGi 100% bankability rating among pure-play solar manufacturers

XI'AN, China, Oct. 15, 2021 /PRNewswire/ -- BloombergNEF (BNEF) has published the results of its 2021 PV Module and Inverter Bankability Survey, focusing on the financing capability of global manufacturers. Based on its excellent performance, stable financial operations and positive reputation in the industry, LONGi ranked top out of 52 companies in the survey for the second consecutive year. Among groups surveyed were banks, fund managers, EPCs (engineering, procurement and construction companies), IPPs (independent power producers) and technical advisers.

The financial health of a manufacturer is an important consideration for banks. For pure-play, publicly quoted module manufacturers, the Altman-Z score is one way to assess financial health. LONGi is one of only two companies with a score above 1.8, improving its balance sheet significantly in 2020 and 2021.

The BloombergNEF report also refers to module test data from PVEL (PV Evolution Labs) and RETC, independent third-party testing agencies, both of which gave LONGi awards this year for outstanding PV module performance, demonstrating the consistent quality of the company's cutting-edge technology and products.

LONGi has also demonstrated its technology, management and customer values to be above and beyond basic industry benchmarks with the launch of the "LONGi Lifecycle Quality" standard, the first such standard for the solar PV industry, aiming to provide global customers with access to the highest levels of quality and reliability throughout the lifecycle of the company's product portfolio.

Under its brand concept of "Steadfast and Reliable Technology Leadership", LONGi is  committed to helping its customers maximise the value of a power plant throughout its lifecycle through technology and product quality. From module design and material selection through to mass production, field performance validation and post-sales support, the company adheres to its core mantra of 'Customer Value First', ensuring that quality practices are incorporated at every stage of its product development, manufacturing and deployment processes.

LONGi's current full-range product portfolio consists of "Hi-RO Onyx", "Hi-MO N", "Hi-MO 5" and "Hi-MO 4", with each product series optimized for different application scenarios. Hi-MO 4 (166mm size wafer) is suited to mountainous regions and areas where handling of modules can be difficult, Hi-MO 5 (182mm size wafer) is a preferred product for ultra-large power plants, Hi-MO N (182mm size wafer) is particularly suitable for application on surfaces with high reflection, high temperature, limited land and high labour costs, with the new Hi-RO Onyx (166mm size wafer) a series of high-efficiency, high-power modules designed for residential rooftop applications.

Each of LONGi's product breakthroughs is based on the maximization of industry value and reduction of LCOE, with the company firm in its belief that it is crucial to provide the right solution to support the long-term growth and success of its global business partners.

About LONGi

LONGi, founded in 2000, is a world leading solar technology organization. The company has had a long-term, unswerving commitment to monocrystalline technology, convinced, rightly, that its general adoption would bring about significant technological change for the whole PV industry.

With 15 manufacturing bases and more than 30 branches around the world, LONGi produces monocrystalline silicon wafers and modules, delivering solutions for distributed and ground mount power station systems, promoting the development of the global PV industry and driving energy transformation. The company's shipments have been among the industry's highest for a number of years and, in 2020, it became the first manufacturer to ship more than 20GW of modules in a year.

LONGi's ongoing high investment in R&D is a significant contributory factor in its success and the company has been rapidly applying new technologies and processes to large-scale production, making important advances in cost control and efficient product innovation.

In 2020, LONGi became the first Chinese solar energy company to join the RE100, EV100 and EP100 initiatives, set up to promote zero-carbon solar and sustainable development.

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