XI’AN, China, Aug. 23, 2019 /PRNewswire/ — LONGi Solar, a subsidiary of LONGi Green Energy Technology Co., Ltd, has achieved AA-Rating status, in the first quarterly release of PV-Tech’s new PV ModuleTech Bankability Ratings.
LONGi Solar is one of only four solar photovoltaic (PV) module suppliers that qualifies within the top-performing rating category of AA across the sector.
The PV ModuleTech Bankability Ratings system is the solar industry’s first qualified tool that allows investors to understand and benchmark solar module suppliers; the analysis tracks a wide range of manufacturing and financial performance metrics, combining these to generate an overall bankability score between 0 and 10. Companies are then graded across nine risk categories from AAA-Rated (most bankable) to C-Rated (high risk).
The ratings system is considered as the PV Tech analysis team’s research achievement over the past five years. It evaluates the investment risk (or financability) rating for all PV module manufacturers, which combined with manufacturing capacity and financial health scores. At present, no company has been rated AAA and the Top 4 companies are all rated AA. PV-Tech and the PV ModuleTech event brand are recognized as the most credible, independent third-party research bodies covering the solar photovoltaic (PV) segment; specifically related to solar PV module suppliers.
“LONGi has always insisted on technological innovation and continuously increased R&D investment in the past years,” said by Zhong Baoshen, Chairman of LONGi. “We always pay attention to the sustainable development of LONGi and maintain the financial stability and healthy. In the future, LONGi will continue to devote itself to providing customers with more reliable products and services.”
According to head of research at PV-Tech, Dr. Finlay Colville, “LONGi Solar has moved rapidly from being a CCC-Rated supplier in 2014 to one of the most bankable module suppliers featuring in the top-performing AA-rated category today. The company is on a trajectory to reach AAA-Rated status within the next 12 months, reflecting strong financial and manufacturing operations.”
LONGi is one of China’s leading solar manufacturers, with a fully vertically integrated monocrystalline supply chain from silicon ingot, wafer, cell to module. The company’s cell and module capacities will reach 10GW and 16GW respectively by the end 2019, and are expected to reach 15GW and 25GW at the end of 2020.