JinkoSolar comments on removal from BloombergNEF’s Q2 tier-1 list
JinkoSolar says its exclusion from BloombergNEF’s second-quarter list of tier-1 solar module manufacturers was due to a civil case involving a subsidiary, rather than financial issues.
JinkoSolar has issued a series of statements on its recent exclusion from BloombergNEF's list of tier-1 solar module manufacturers for the second quarter of this year. The list primarily focuses on the bankability of PV modules.
The company said in a statement that its removal from the list was due to a civil legal case involving its Chuzhou unit and an overdue payment of CNY 2,190 ($308), rather than any financial issues or other irregularities. It said it has fully resolved the issue and has submitted supporting documentation to BloombergNEF.
“The company will reserve no effort to clear the negative impact and provide the best bankability support as the largest modules provider worldwide,” it said.
JinkoSolar also said that other unspecified manufacturers have been removed from the tier-1 list due to similar legal issues, sometimes with even higher sums of money at stake.
“Nevertheless, after addressing and resolving the underlying legal cases, they all have consistently been reinstated to the tier 1-list in the following report,” it said, without providing additional details.
BloombergNEF's quarterly list of tier-1 solar module manufacturers focuses on the likelihood that banks will finance projects using specific solar products.
“Bankability – whether projects using the solar products are likely to be offered non-recourse debt financing by banks – is the key criterion for tiering,” BloombergNEF explains on its website. “Banks, and their technical due diligence providers, are extremely unwilling to disclose their whitelists of acceptable products.”
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Unfortunately Tier 1 no longer serves as trustful criteria of bancability of module manufacturers. In tier 1 list all the companies are mixed together, no matter if their capacity is 100GW or 2GW. Also if the largest and more financial stable companies can be delisted by mere USD300 of a random debt, the methodology is clearly flawed.
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Unfortunately Tier 1 no longer serves as trustful criteria of bancability of module manufacturers. In tier 1 list all the companies are mixed together, no matter if their capacity is 100GW or 2GW. Also if the largest and more financial stable companies can be delisted by mere USD300 of a random debt, the methodology is clearly flawed.