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Shunfeng Media Scan for February 12, 2015
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Suntech bounces back as Tier 1 solar company in Bloomberg list
Feb 11, 2015 | Greentech Lead
By Sabeena Wahid
Bloomberg New Energy Finance (BNEF) has included Suntech in the Tier 1 solar company list published during the February 2015 PV Market Outlook. -
Suntech Named Tier 1 Solar Company by BNEF
Feb 11, 2015 | Alternative Energy Africa
Bloomberg New Energy Finance (BNEF) has added Suntech to its Tier 1 solar company list in its February 2015 PV Market Outlook.
BNEF Press Release
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Suntech bounces back as Tier 1 solar company in Bloomberg list
Feb 11, 2015 | Greentech Lead
By Sabeena Wahid
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.
http://www.greentechlead.com/solar/suntech-bounces-back-tier-1-solar-company-bloomberg-list-21669
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Suntech Named Tier 1 Solar Company by BNEF
Feb 11, 2015 | Alternative Energy Africa
Bloomberg New Energy Finance (BNEF) has added Suntech to its Tier 1 solar company list in its February 2015 PV Market Outlook. BNEF has developed a unique ranking system for grading PV module makers, based on bankability and cooperation with market developers, investors and EPCs. The ranking creates a transparent differentiation between the hundreds of manufacturers of solar modules on the market.
“When we acquired Suntech, we knew that it had the best PV modules in the industry and it was clear to us that the company would be a perfect fit for Shunfeng’s strategy to become the world’s largest integrated clean energy generation company,” said Eric Luo, CEO of Shunfeng International Clean Energy, parent company of Wuxi Suntech . “What we didn't know was how quickly it would regain its bankability status. We are proud that this has happened within such a short period after Suntech’s emergence from insolvency, and are confident that our partnership with the most respected financial institutions in the industry will provide the best solutions to our customers worldwide.”
Tier 1 module manufacturers are those which have provided own-brand, own-manufactured products to five different projects, which have been financed, non-recourse, by five different non-development banks, in the past two years. The outlook is based on solar PV developments that occurred over the course of 2014.
Wuxi Suntech had previously lost its tier 1 rating by Bloomberg New Energy Finance during its insolvency. However, following Suntech’s acquisition by Shunfeng International Clean Energy in 2014 and the increase in its debt finance availability from commercial banks, BNEF now defines Suntech as a major bankable solar PV module supplier in 2015.
Under Shunfeng, Suntech has the strongest financial footing in the solar industry with nearly zero debt. It is part of the world’s largest integrated clean energy generation provider globally – integrated not only in terms of manufacturing but also in terms of owning clean energy producing assets with capabilities in manufacturing, construction, finance, insurance, operation and maintenance, energy storage and applications.
http://ae-africa.com/read_article.php?NID=6108
BNEF Press Release
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