Tears for tiers

Facebook
Twitter
LinkedIn
Reddit
Email

First of all, congratulations to ReneSola for being included in Bloomberg New Energy Finance’s (BNEF) tiering system for PV module makers – joining the often used “Tier 1” category.

According to Kevin Chen, president of ReneSola America, the BNEF recognition should mean that PV project developers, EPCs and financiers involved in the downstream PV project business can now include ReneSola in possible product selection requirements, aka bankability.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

According to BNEF: “Tier 1 module manufacturers are those that have provided products to three different projects, which have received non-recourse financing by three different banks in the past two years.”

However, like the PV ranking systems the tiering system is fraught with problems.

Only last October, BNEF classified Conergy as a Tier 1 supplier in a report worryingly entitled PV module bankability: an essential prerequisite?

Conergy has had a chequered past with a series of major restructuring efforts and last year the company seemed to be over those woes. But as is the nature of the downstream market, liquidity requirements can be a ‘here today, gone tomorrow’ kind of thing; last week the company announced it had begun insolvency proceedings.

The hope is that ReneSola isn’t cursed by being included in BNEF’s tiering system, unlike several PV manufacturers that tempted fate with another market research firm's “Top Brand PV” appraisal. Previous recipients of this included Scheuten Solar, Suntech Power Holdings, SolarWatt, Schott, Sovello and Q-Cells.

And we all know what happened to them!

Read Next

July 2, 2025
Indigenous-led renewable energy company Yindjibarndi Energy Corporation (YEC) has submitted plans for a hybrid wind and solar PV renewable energy project to the Australian government’s Environment Protection and Biodiversity Conservation (EPBC) Act.
July 2, 2025
Robotics company Luminous has received AU$4.9 million (US$3.2 million) via Australia’s Solar ScaleUp Challenge to support deploying its ‘LUMI’ technology at utility-scale solar PV power plants.
July 1, 2025
Spanish independent power producer (IPP) Zelestra has secured financing and reached financial close for its 220MW solar-plus-storage plant in Chile.
July 1, 2025
Independent power producer (IPP) Arevon Energy has closed a US$600 million credit facility to support its solar PV and energy storage portfolio in the US.
July 1, 2025
The UK government has released this week (30 June) its Solar Roadmap, which sets out practical measures to meet the country’s solar PV targets.
July 1, 2025
Solar developer ib vogt has sold a 110MW solar PV plant in Spain to international fund NextPower V ESG, which is operated by investment firm NextEnergy Capital (NEC).

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA