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Tongwei Ranked as a Tier 1 PV Module Manufacturer

published: 2022-11-24 9:02

Recently Bloomberg New Energy Finance (BNEF) announced the ranking of global PV module manufacturing suppliers for the 4Q of 2022. By virtue of the high-quality and efficient shingled Terra series products, reliable brand credibility and strong financing strength, Tongwei was on the list of Tier 1 (a first-class photovoltaic module manufacturer), which fully reflects the international professional research institutions' astounding recognition of Tongwei's high-efficiency modules.

Further Advancement in Global Strategies

BNEF’s tiering system for global PV module manufacturers is divided into three grades, among which the first echelon manufacturers are the most stringent in the selection, and need to prove that they can provide self-owned brand and self-produced module products for a minimum of six projects, and these projects Requires non-recourse financing from six different commercial banks. Due to the strict selection criteria, the quarterly Tier 1 listing has become a global standard for third-party verification of the qualification rating of PV module suppliers. Judging from multiple dimensions such as product quality assurance, government project bidding, and bank financing support, Tier 1 can reflect the comprehensive strength and competitiveness of an enterprise in real time, and is an important basis for judging investment in global photovoltaic projects.

Tongwei has been fully engaged in module development since 2022, whose module products have been substantially applied in PV power-generating projects from multiple regional markets around the world thus far.  The seven projects awarded by Tongwei of Tier 1 ranking this time are fully adopted with Tongwei’s Terra shingled products, which include Terra-5K, Terra-5E, Terra-5C, and Terra-S6. Shingled Terra series products conform to the global carbon reduction trend, focus on green development, safety and efficiency, and are advantageous in high power, content and eco-friendly, and low risks of hot spots, and have been fully certified and recognized in product reliability. Being listed as a Tier1 would further elevate Tongwei’s reputation and influence in the global market and facilitate firmer steps in its global strategic layout.

Green and Low-Carbon Development Lead by Tongwei’s High-Efficiency Modules

Demand and cost are the two major core factors in impacting the development of the PV market. In the face of increasing demand, comprehensive cost competition will become a pain point in future industry competition. Tongwei has been adhering to market development tendencies by accelerating its module deployment under the surging demand for PV installations from both domestic and overseas markets at the critical node of global energy transformation. In terms of cost, a vertically integrated deployment helps Tongwei in penetrating into the fully industry chain and fully exerting its advantages of being an upstream leading business, which effectively reduces the cost of module production and LCOE of PV systems, where the accentuated cost advantages will indeed reinforce the market competitiveness of Tongwei’s modules. Tongwei’s high-efficiency modules can now accomplish targets of cost reduction & efficiency elevation and green & low carbon, as well as attain extensive full-scenario applications by fulfilling scenarios such as distributed rooftop solar, distributed industrial and commercial solar, and large ground-mounted power stations. Among which, the Terra shingled products are now forceful boosters for Tongwei in breaching barriers of the green industry and further expanding its overseas markets.

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