Boviet Solar’s bankability rating increases in PV MODULETECH q1 2024 report

San Jose, California, USA, April 19, 2024 — Boviet Solar Technology Co. Ltd. (the “Company” or “Boviet Solar”), a solar energy technology company specializing in manufacturing monocrystalline PV cells, Gamma Series™ Monofacial, and Vega Series™ Bifacial PV Modules, has achieved a “B” in the PV ModuleTech Bankability Ratings report for Q1 2024. This increase from the company’s grades over previous years demonstrates Boviet Solar’s manufacturing, technological, and financial viability.

The PV ModuleTech Bankability Ratings report is released by PV Tech.org, a leading industry publication that focuses on the international solar PV supply chain. The quarterly report provides a definitive guide to understanding, ranking, and benchmarking the bankability status of leading global PV module suppliers to commercial, industrial, and utility sites. PV module suppliers are analyzed across technology, shipment volume, manufacturing capacity, and financial strength metrics, converted into quarterly Bankability Ratings, from AAA-Rated (highest, lowest risk) to C-Rated (lowest, highest risk). More information about PV ModuleTech Bankability Rating criteria can be found here.

“Our improved PV ModuleTech Bankability Rating is the result of the hard work our team has put in and the strides we’ve made,” Sienna Cen, President of Boviet Solar USA, said. “Our leading technology now includes a strong focus on R&D in PERC and TOPCon cell-based monofacial and bifacial PV modules and we were rated as a Top Performer in PVEL’s 2023 PV Module Reliability Scorecard. Our annual PV cell and PV module manufacturing capacity has also grown to 3.0 GW, and we have shipped a total of 4.4 GW since our inception. Boviet Solar was also one of only three manufacturers the U.S. Department of Commerce found to be not circumventing, allowing our PV modules to cross the U.S. border free from the payment of AD/CVD duties. We are also continuously ranked as a Tier 1 solar module maker by BloombergNEF, giving Boviet third-party validation of our financial stability. This higher grade reflects Boviet’s dedication to continuous improvement as we move forward into our second decade in solar.”

Global PV site investors, developers, EPCs, and asset owners use the report as a tool for selecting a module supplier that can maximize site performance, reliability, and long-term returns. Boviet is proud to demonstrate its increasing bankability to its valued customers.

“Bankability matters to customers, just as much as top performing, cost-effective PV modules,” Scott Chen, VP of Global Sales and Marketing at Boviet Solar, said. “Our higher bankability grade in PV ModuleTech’s report demonstrates our increased value to IPPs, EPCs, project developers, solar installers, and other partners who depend on reliable products to do their important work in furthering global solar development.”

Boviet Solar offers financial and business stability, technological know-how, manufacturing excellence, top-performing PV modules, supply chain transparency, and strong ESG. With a proven track record of successfully working with many of the industry’s leading players, Boviet Solar has maintained its position as a BloombergNEF Tier 1 solar module manufacturer since 2017. Boviet Solar’s PV Modules are known for their power, performance, and quality and have been rated as top performers on PVEL’s PV Module Reliability Scorecard since 2019. Black & Veatch successfully completed an independent assessment of Boviet Solar’s manufacturing facilities in 2022.

About Boviet Solar

Founded in 2013 in Vietnam, Boviet Solar, a subsidiary company of Boway Alloy, is a Tier 1 solar technology company that specializes in the manufacturing of Monocrystalline PERC and TOPCon PV cells and Gamma Series Monofacial and Vega Series Bifacial PV modules, as well as solar project development. The company works with IPPs, EPCs, project developers, solar installers, and contractors to deliver top-performing PV modules for utility-scale, commercial, industrial, and residential solar projects. As of 2023, Boviet Solar’s annual PV cell and PV module manufacturing capacity is 3.0 GW, and it has shipped a total of 4.4 GW since inception, mainly operating in the U.S. market.

The company offers financial and business stability, technological know-how, manufacturing excellence, top-performing PV modules, supply chain transparency, and strong ESG. With a proven track record of successfully working with many of the industry’s leading players, Boviet Solar has maintained its position as a BloombergNEF Tier 1 solar module manufacturer since 2017. Boviet Solar’s PV Modules are known for their power, performance, and quality and have been rated as top performers on 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 has offices in the United States and Germany 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