Chinese module manufacturer CSUN has been awarded the title of tier one module supplier by the Bloomberg New Energy Finance (BNEF) PV Module Maker Tiering System.
BNEF designed the ranking system based on bankability in order to help developers, EPCs and investors gain a better overview and understanding of the many module manufacturing companies on the market.
Stephen Cai, CEO of CSUN said: “This is an important milestone on our strategy path to continuously expand CSUN’s global reach by supplying high quality products and being a safe choice for our partners and customers in a quickly changing industry…Having achieved the tier one module supplier status [this] allows developers and EPC customers easier access to financing instruments, which is an important pre-requisite to realise utility-scale solar installations. The BNEF ranking system is a trusted evaluation tool, which carries a lot of weight with many of our customers.”
According to BNEF, a manufacturer that is eligible to receive a tier one status has supplied products to three separate projects financed by three separate non-development banks over a two-year period.
The accolade marks the latest in a large turnaround for CSUN. After being delisted from the NASDAQ stock exchange in May 2013, the company regained its listing around two months later. It has also established a manufacturing presence in Turkey to serve the European market.