Bloomberg New Energy Finance (BNEF) has included Suntech in the Tier 1 solar company list published during the February 2015 PV Market Outlook.
The outlook is based on solar PV developments that happened through 2014.
BNEF has expanded a ranking system, according to which PV module makers are classified on the basis of their bankability and cooperation with market developers, investors and EPCs.
Tier 1 module manufacturers are categorized on the basis of utilizing own-brand as well as own-manufactured products for five different projects in the past two years.
In addition, they should have been financed, non-recourse, by five different non-development banks in through the same period.
Earlier, Wuxi Suntech had lost its tier 1 rating by Bloomberg New Energy Finance during its insolvency.
However, Suntech was acquired by Shunfeng International Clean Energy in 2014, leading to an increase in its debt finance availability from commercial banks.
Under Shunfeng, Suntech developed a robust financial footing in the solar industry with nearly zero debt.
As a result, BNEF described Suntech as a major bankable solar PV module supplier in 2015.
Right Now, Suntech is part of the world’s largest integrated clean energy generation provider globally, with capabilities in manufacturing, construction, finance, insurance, operation and maintenance, energy storage and applications.
In Sep 2014, Shunfeng and Greenfield Solar entered into a strategic alliance with youmex, a clean energy financing and investment firm in Germany.
According to the agreement, youmex will finance and sell the partners’ solar farm projects pipeline in Great Britain, using Suntech as its exclusive PV panel supplier for projects.
Sabeena Wahid