BOVIET SOLAR HAS ACHIEVED “B” IN PV MODULE TECH Q2 2024 BANKABILITY RATING

San Jose, California, USA, July 15, 2024 — Boviet Solar Technology Co. Ltd. (the “Company” or “Boviet Solar”), a leading solar energy technology company specializing in manufacturing monocrystalline PV cells, Gamma Series™ Monofacial, and Vega Series™ Bifacial PV Modules, has achieved a “B” rating in the PV ModuleTech Bankability Ratings report for Q2 2024. This increase from previous quarters’ grades underscores Boviet Solar’s enhanced manufacturing, technological, and financial viability.

PV Tech Organization focuses on the needs of PV module suppliers in the European and U.S. markets. It covers topics such as product availability, technology offerings, supply-chain traceability, and module testing and reliability. PV ModuleTech also includes bankability ratings, which are considered one of the most accurate and detailed ranking systems for PV module buyers.

PV Tech’s PV ModuleTech Bankability Ratings are a quarterly report that ranks the top 50 PV module suppliers in the industry. The report uses a proprietary methodology to analyze dozens of companies over the past 15 years and categorize them into 11 rating bands, from AAA to CC. Within each band, companies are listed from most bankable to least. The report evaluates each company’s manufacturing, technology, R&D and financial performance to determine their strengths and weaknesses in terms of investment and financing risks, product reliability, and company credibility.

“Company, manufacturing and product bankability all matter to solar project stakeholders,” said Scott Chen, VP of Global Sales and Marketing at Boviet Solar. “Our higher bankability rating in PV Module Tech’s report demonstrates our increased value to investors, EPCs, project developers, solar installers, and other solar project stakeholders who depend on reliable company and solar modules to do their important work in furthering global solar development.”

“Our improved PV ModuleTech Bankability Rating is the result of the hard work our team has put in and the strides we’ve made,” said Sienna Cen, President of Boviet Solar USA. “We are top rated at Kiwa PVEL PV module reliability scorecard since 2029 and ranked as the top 10 bankable PV module manufacturer by Wood and Mackenzie in 2024. Our annual PV cell and PV module manufacturing capacity has also grown to 3.0 GW, and we have shipped a total of 6.5 GW since our inception to main commercial market U.S.A. We continue to invest in research and development with PERC and TopCon cells and higher power glass monofacial and bifacial PV modules to increase our product power, performance and reliability. This higher-grade rating reflects Boviet’s dedication to continuous improvement as we move forward into our second decade in solar.”

PV Module manufacturer bankability rating is an important indicator for manufacturers long term viability and product reliability. Investors use ratings to gauge financial health and market confidence of PV module manufacturers, guiding capital allocation. Developers utilize ratings for supplier selection to ensure performance and reliability of PV systems, maximizing financial returns and minimizing risks. EPCs rely on ratings for procurement decisions, ensuring equipment meets performance and reliability standards, aiding timely and budget-friendly project delivery. Asset Owners assess the long-term viability of investments, mitigating risks associated with equipment failure and operational downtime.

Bankability rating also provides benchmarks for evaluating reliability and viability, aiding risk management in supplier selection and project execution as well as offers standardized benchmarks for comparing manufacturers globally, facilitating strategic decision-making and fostering competition.

About Boviet Solar

Founded in 2013 in Vietnam, Boviet Solar, is a leading solar technology company that specializes in the manufacturing of Monocrystalline PERC, TOPCon PV cells and Gamma Series™ Monofacial, Vega Series™ Bifacial PV modules, as well as solar project development. The company offers business, financial stability, technological know-how, manufacturing excellence, top-performing PV modules, supply chain transparency and strong environmental, social, corporate governance protocol and client relations based on mutual partnership. As of January 2024, Boviet Solar’s annual PV cell and PV module manufacturing capacity is 3.0 GW, it has delivered a total of 6.2 GW since inception and mainly focuses on U.S.A market.

The company works with EPCs, developers, installers, and contractors to deliver top-performing PV modules for utility-scale, commercial, industrial, and residential solar projects. With a proven track record of successfully working with many of the industry’s leading players, Boviet Solar has been named top 10 Global bankable PV module manufacturers by Wood and Mackenzie.  Boviet Solar’s PV Modules are known for their power, performance, and quality and have been rated as top performers on kiwa/PVEL’s PV Module Reliability Scorecard since 2019. Black & Veatch successfully completed an independent assessment of Boviet Solar’s manufacturing facilities in 2022. Boviet Solar’s manufacturing facilities located in Vietnam, USA and has offices in the United States, Germany, and China, with its global headquarters in Vietnam. For more information about our company and products please visit www.bovietsolar.com

MEDIA INQUIRES:
Songül Atacan
Director of Global Marketing
Boviet Solar
songul.atacan@bovietsolar.com