#China #Energy Storage #Sungrow #Hefei #BloombergNEF

Sungrow Achieves Recognition as Most Bankable Company in Energy Storage

In a significant announcement, BloombergNEF (BNEF) has recognized Sungrow Power Supply Co., Ltd. as the most bankable company in the energy storage system (ESS) and power conversion system (PCS) sectors. This acknowledgment, revealed in the latest Energy Storage System Cost Survey for 2024, underscores Sungrow's leading position in the global renewable energy landscape.

James Wu, Senior Vice President at Sungrow, emphasized that this honor is attributed to several factors, including the company’s top-quality products and services, advanced technologies, solid financial foundation, dependable supply chain, and significant practices across global markets. Sungrow's top ranking in bankability indicates that projects using their energy storage systems or PCS are more likely to secure financing from global banks compared to competitors, ensuring sustainable benefits for stakeholders.

This year, an impressive 80% of participants in the bankability survey were based in the US or Europe, highlighting the robust trust and reliability that Sungrow has cultivated in the global financial and energy storage sectors.

With an impressive 18 years of experience in energy storage, Sungrow has emerged as a leader with the highest cumulative installations globally. Their track record includes participation in groundbreaking projects such as a 7.8 GWh energy storage initiative in Saudi Arabia, noted to be one of the largest globally. Furthermore, Sungrow has prioritized safety, conducting extensive large-scale burn tests on its PowerTitan series, thereby establishing new industry safety standards.

Sungrow's commitment to innovation remains steadfast, with the company providing comprehensive energy storage solutions designed to optimize returns for investors while promoting a more sustainable energy ecosystem. Wu proudly stated, “We are thrilled to be the chosen brand for our customers, partners, and financial institutions. With our dedicated team operating in 20 branches across six continents, we are committed to empowering our clients and partners through reliable and sustainable energy solutions that drive the global transition toward a greener future.”

About Sungrow

Sungrow has been at the forefront of renewable energy technology for over 27 years, establishing itself as a pioneer of sustainable power solutions. By mid-2024, the company had successfully installed an astounding 605 GW of power electronic converters globally. Sungrow is recognized as the leading provider of photovoltaic (PV) inverters and holds the title of the most bankable energy storage firm, according to BloombergNEF. The company’s innovations fuel clean energy projects in over 170 countries, underpinned by a network of 490 service outlets ensuring exceptional customer experiences. Sungrow is dedicated to driving the shift towards a sustainable future through innovative technology and unparalleled service.

For more information about Sungrow and its offerings, visit www.sungrowpower.com.