Phono Solar Technology Co., LTD (“Phono Solar”), a leading brand and technology provider of solar photovoltaic (“PV”) products, announced today that the Company has been recognized as “Tier 1” on the prestigious Bloomberg New Energy Finance (“BNEF”) PV Module Maker Tiering System.
BNEF developed a tiering system for PV module makers based on bankability, to create a transparent differentiation between the hundreds of manufacturers of solar modules on the market. The classification is based on bankability, specifically whether projects using a particular brand of solar modules are likely to be offered non-recourse debt financing by non-development banks. BNEF bases its findings on completed deals tracked through its database, which included more than 4,800 solar financings worldwide as of November 2013.
Phono Solar, a business unit of the Sumec Group, a global multi-billion dollar diversified company providing solutions in renewable energy production and storage, announced that Phono Solar has been included on Bloomberg New Energy Finance’s February, 2014 list of Tier 1 PV Module Makers. David Allen, Vice President Sales of Phono Solar, said “While Phono Solar remains an established supplier of high quality modules for the residential and small commercial markets, inclusion on the Tier 1 list shows Phono Solar’s continued growth and commitment to the large commercial and utility -scale markets.” Financial institutions recognize Phono Solar as a very bankable product with strong support provided by the Sumec Group and its parent company Sinomach, a Global Fortune 500 company. “Being recognized by BNEF as Tier 1 is another important step in reaching our goal to be a global leader in PV and energy storage solutions.”