ET Solar Back On The BNEF Tier 1 List
25 Nov 2020
ET Solar, one of the leading Chinese solar panel manufacturers, was once again recognized by Bloomberg New Energy Finance ("BNEF") as a Tier 1 Module Manufacturer on November 23, 2020.
BNEF developed its tiering system for PV module manufacturers to create a transparent differentiation between the hundreds of manufacturers of solar modules in the market. The classification is based on bankability, specifically whether projects using a particular brand of solar modules are likely to be offered non-recourse debt financing by commercial banks. Tier 1 module manufacturers are those that have provided products to at least six different projects, which have received non-recourse financing by six different commercial banks in the past two years. ET Solar has supplied its solar panels to many projects which were financed by commercial banks during the BNEF required time period.
"ET Solar is an established module brand that has been well known globally for the past 15 years for its reliability and good reputation in the global PV market. We built up the Southeast Asia GW factory to better serve our customers globally after ETs new investor took over the business in 2019." said Alex Chen, Head of Sales & Marketing of ET Solar. "Bankability is the key criterion within the classification system, because banks are extremely stringent in verifying the quality of the modules used in solar project. This quarter, most of our projects were financed by different commercial banks in United States. For example, the 62MW Turquoise solar project has been awarded for 2020 Utility-Scale Solar Project of the Year by Solar Builder Magazine. ET Solar is proud to be back on the Tier 1 list and has demonstrated its bankability, a benefit to both ET and its current and future customer base."