LONGi-LERRI Solar Named Tier One by Bloomberg
Based on LERRI Solar’s success in projects that have received non-recourse financing, Bloomberg New Energy Finance has named LERRI Solar a Tier One supplier
SHANGHAI, Feb. 22, 2017 /PRNewswire/ — LERRI Solar, a world leading monocrystalline solar module manufacturer headquartered in Xi’an, China, has been named a Tier One supplier by Bloomberg New Energy Finance (BNEF). BNEF’s classification is based on demonstrating significant non-recourse project finance deals that have successfully closed. i.e., becoming a Tier One company, per BNEF, requires a significant track record of commercial acceptance by investment institutions. Furthermore, per BNEF, “…one of the characteristics of a tier 1 manufacturer is transparency and good data availability.” BNEF provides its list of Tier One producers, updated quarterly, to companies who subscribe to BNEF’s Solar Insight Service.
According to Mr. Richard For, LONGi-LERRI Solar’s Head of Overseas Business, “We are pleased to kick off 2017 with being named a Tier One module supplier by the prestigious Bloomberg organization. This is another milestone for the LONGi-LERRI Group and demonstrates market acceptance of our high quality and high efficiency monocrystalline modules.”
Based on manufacturing capacity, LERRI Solar ranks in the top quarter of all manufacturers on BNEF’s Tier One list.
About LERRI Solar
LERRI Solar is a world-leading manufacturer of high-efficiency mono-crystalline solar cells and modules. The company was founded in 2007 and subsequently acquired by the LONGi Group in 2014. The LONGi Group is the largest supplier of mono-crystalline silicon wafers in the world, with total assets above $1.7 billion and capacity of 7.5GW (as of end-2016).
LONGi-LERRI Solar has been selected as a “Top Runner” – a classification by the Government of China bestowed on a select few PV manufacturers that meet strict standards for module efficiency and power. LONGi-LERRI Solar qualified by producing modules from high efficiency monocrystalline silicon solar cells. LONGi-LERRI Solar shipped approximately 2.5GW of module products in 2016, more than double from the prior year. LONGi-LERRI Solar is a wholly owned subsidiary of the LONGi Group, the world’s largest producer of monocrystalline silicon wafers for the solar industry. In addition to its China operations, LONGi will soon commence new facilities in Malaysia and India, with vertically integrated production of photovoltaic wafers, cells and modules.