Sunova Solar is proud to inform its customers, partners and those who want to become such in the future, that it has been listed as Tier 1 player by Bloomberg in their 3rd quarter 2023 report, which was published on August 21, 2023.
William Sheng, CEO of Sunova Solar, declared: “Becoming a Tier 1 player is a major milestone for Sunova Solar. We have worked carefully with our partners to find the right projects and educate their banks about the reliable quality of our modules. While compiling the required projects, we also already started to reconduct or develop our business model from roof-top distributed solar energy to utility scale applications. The Tier 1 listing will support us in fully encompassing this segment and will open doors for participation in the largest projects. At the same time, we honor and maintain close relationships to our customers that trusted us even before we acquired the Tier 1 status and continue our market expansion across all segments together with them.”
Mike Song, Chairman of Sunova Solar, added: “With an operational 4.2 GW modules production capacity and further 6 GW under construction, we are already preparing for increasing demand as a Tier 1 player.
“Political uncertainty has brought great challenges to the supply chains, requiring flexibility and multilateral cooperation to be successful in this market. Iterative updating of cell technology and the need to develop products for multiple applications remains a constant challenge. For this reason, we at Sunova Solar have decided to integrate our production processes around the cell technology supply chain, which is the main influencing factor that enables us to combine cost reduction with increasing efficiency.
“Therefore, we have also invested in a silicon wafer production site with 20 GW production capacity, which is also currently under construction. This will help us tremendously to control the quality and the costs of the cells produced for us and enables direct control of the full supply chain by purchasing polysilicon material directly. This will help us to guarantee compliance with all non-forced labor traceability issues and regulations already set up in the US and becoming effective next year in Europe. At the same time, we are diversifying our cooperation in different areas to broaden market access, which will help us gain further advantages of economies of scale.”
“Full traceability is not the only benefit customers will have from Sunova Solar being a Tier 1 listed player by Bloomberg“, explained Mr. Sheng, “It will also ease their access to finance for all sizes of projects, as being a Tier 1 player is a further confirmation of the bankability of our products. We are already CC+ rated according to the PV Tech Module bankability report, which emphasizes our thorough financial management. Tier 1 listing by Bloomberg will help us to further move up on this scale, as their rating is strongly connected to shipments, which we expect to rise now, with the ability to serve utility scale projects. Together with our continuous focus on affordable high efficiency and quality modules, all these components enhance the trust in our company and products by EPC, developers, investors and financial institutions alike.”
Finally, Mr. Song concludes: “Having started as employees in this industry more than a decade ago, now that we are the co-owners of a Tier 1 company, we can trace back our success to our belief that prosperous companies must have a clear vision and mission, and that the top management must establish a good corporate culture and its respective values to lay the foundation for continuous growth and strong sustainable success.”
To read the full news, please go to https://www.sunova-solar.com/news/corporate-news/sunova-solar-listed-as-tier-1-module-manufacturer-by-bnef.html
About Sunova Solar
Sunova Solar, founded in 2016, is an integrated system solution provider focusing on the R&D and manufacturing of globally distributed solar products and the development of PV plants. Currently, Sunova Solar operates three manufacturing factories in China and Vietnam, with integrated 4.2 GW capacity of solar modules and has further 11 GW of production capacity under construction, expected to become operational by the end of 2023. Sunova Solar has set up its own branches or offices in Germany, Brazil, Poland, Netherlands, Spain, Italy, France, Mexico, Vietnam and other countries. In addition, it has more than 100 industry-leading partners in more than 20 countries and regions around the world. As of June 2023, Sunova Solar has shipped more than 3.5GW of cumulative modules worldwide. In addition to modules, Sunova Solar is providing PV storage solutions for residential, small and medium sized commercial applications.
For further information, please contact:
Andrea Bodenhagen
Global Branding Director
Sunova Solar Europe GmbH
Mob.: +49-1590-1621062
Andrea.bodenhagen@sunova-solar.com
www.sunova-solar.com
