BloombergNEF Awards Sungrow as the Most Bankable Company for Energy Storage System and PCS

HEFEI, China, Dec. 19, 2024 /PRNewswire/ -- BloombergNEF (BNEF) has recognized Sungrow as the world's most bankable company in both the energy storage system and Power Conversion System (PCS) sectors, in its just-released Energy Storage System Cost Survey 2024. "This honor hinges on Sungrow's optimal products and services, cutting-edge technologies, robust financial health, reliable supply chain, and extensive global practices," said James Wu, Senior Vice President of Sungrow.

BloombergNEF is recognized by numerous international financial institutions as among the most credible third-party renewable energy research hubs. Sungrow's No.1 bankability ranking represents that projects using the Sungrow energy storage system or PCS are more likely to obtain financing from banks than other competitors, ensuring favorable and sustainable benefits for stakeholders. This year, over 80% of the bankability survey participants are headquartered in the US or Europe, this highlights that Sungrow's ranking demonstrates robust trust from stakeholders in the global financial market and energy storage field.

As a dedicated and trustworthy trailblazer with an 18-year track record in the energy storage industry, Sungrow holds the top position in global cumulative energy storage system installations. The track record is further solidified by its involvement in landmark projects, such as a 7.8 GWh energy storage project in Saudi Arabia, one of the largest of its kind in the world. Additionally, Sungrow has demonstrated its commitment to safety through two large-scale burn tests of its PowerTitan series of utility-scale battery energy storage systems, which have set new industry safety standards. With a continued focus on innovation, Sungrow provides comprehensive grid-forming energy storage solutions, maximizing investors' return on investment and ensuring a more sustainable energy system.

"We are proud to be the preferred brand for customers, partners, and financial organizations," said Wu. "With our professional team in 20 local branches spanning six continents, we are dedicated to empowering our customers and partners with reliable, sustainable energy products and services that drive global progress toward a greener future."

About Sungrow

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 27 years. As of June 2024, Sungrow has installed 605 GW of power electronic converters worldwide. The Company is recognized as the world's No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the world's most bankable energy storage company (BloombergNEF). Its innovations power clean energy projects in over 170 countries, supported by a network of 490 service outlets guaranteeing excellent customer experience. At Sungrow, we're committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit www.sungrowpower.com.

CONTACT: Mina Zhang, mina.zhang@cn.sungrowpower.com

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