SAN
JOSE, Calif., Aug. 2, 2024
/PRNewswire/ -- Boviet Solar Technology Co. Ltd. (the "Company" or
"Boviet Solar"), a solar energy technology company specializing in
manufacturing monocrystalline PV cells, Gamma Series™ Monofacial,
and Vega Series™ Bifacial PV Modules, announced today that it has
been ranked as a top 10 PV module manufacturer by Sinovoltaics in
its latest PV Module Manufacturer Ranking Report, which measures
financial stability.
For stakeholders in solar projects, the
financial strength of the manufacturer is vital.
Sinovoltaics specializes in technical compliance and quality
assurance services for solar photovoltaics and battery energy
storage systems. Edition 3 of Sinovoltaics' PV Module Manufacturer
Ranking report includes the financial stability scores of 65
publicly listed Asian, European, and American solar PV module
manufacturers.
Since 2021, Sinovoltaics has collected publicly available
financial data to rank companies based on the Altman Z-Score, a
widely recognized financial assessment tool that assesses the
financial stability of manufacturers, identifying which companies
are financially secure and which are at risk of going bankrupt
within the next two years. The main factors affecting the
Sinovoltaics' rankings include:
- Working Capital
- Total Assets
- Retained Earnings
- Earnings Before Interest & Tax
- Market Value of Equity
- Total Liabilities
- Sales
For stakeholders in solar projects, the financial strength of
the manufacturer is vital. PV modules from financially stable
manufacturers help mitigate the risk of a collapsing return on
investment (ROI) in any PV project. A PV module manufacturer's
financial stability impacts the validity and enforceability of its
warranty policies. Being ranked in the top 10 of Sinovoltaics' PV
Module Manufacturer Ranking Report is an important indicator of
Boviet Solar's reliability as a long-term industry partner that
clients and financial institutions can trust.
"We are thrilled to be in the Top 10 of Sinovoltaics' ranking of
PV module manufacturers," said Scott
Chen, VP of Global Sales and Marketing. "This recognition
underscores our dedication to financial stability in the solar
industry. By consistently prioritizing innovation and rigorous
financial management, we ensure that our PV modules remain reliable
and trustworthy. Our inclusion in this prestigious ranking reflects
our commitment to providing high-quality products and services that
support our clients' success."
"We are pleased to see that Boviet Solar has ranked well in our
latest ranking report," said Dricus de Rooij, co-founder and CEO of
Sinovoltaics. "Given the current market dynamics, it's essential
for renewable energy developers to have a clear view of a
manufacturer's financial trajectory and a perspective that extends
beyond quarterly fluctuations."
"This recognition underscores our financial stability and
commitment to quality. As a trusted solar industry partner, we
remain dedicated to ensuring the long-term success of our clients
and advancing sustainable energy solutions globally," said
Sienna Cen, President of Boviet Solar USA.
Boviet Solar has consistently demonstrated strong bankability,
as evidenced by its inclusion in several prestigious industry
rankings and assessments. Boviet Solar has been named one of the
top 10 Global bankable PV module manufacturers by Wood Mackenzie.
Boviet Solar's PV Modules are known for their power, performance,
and quality and have been rated as top performers in other notable
reliability scorecards since 2019. Black & Veatch successfully
completed an independent assessment of Boviet Solar's manufacturing
facilities in 2022. These accolades collectively affirm Boviet
Solar's commitment to excellence and its role as a dependable
partner in the renewable energy sector.
ABOUT BOVIET SOLAR
Founded in 2013 in Vietnam,
Boviet Solar is a leading solar technology company that specializes
in the manufacturing of Monocrystalline PERC, TOPCon PV cells and
Gamma Series™ Monofacial, Vega Series™ Bifacial PV modules, as well
as solar project development. The company offers business,
financial stability, technological know-how, manufacturing
excellence, top-performing PV modules, supply chain transparency
and strong environmental, social, corporate governance protocol and
client relations based on mutual partnership. As of January 2024, Boviet Solar's annual PV cell and
PV module manufacturing capacity is 3.0 GW, it has delivered a
total of 6.2 GW since inception and mainly focuses on the
U.S.A market.
The company works with EPCs, developers, installers, and
contractors to deliver top-performing PV modules for utility-scale,
commercial, industrial, and residential solar projects. With a
proven track record of successfully working with many of the
industry's leading players, Boviet Solar has been named a top 10
global bankable PV module manufacturer by Wood Mackenzie. Boviet
Solar's PV Modules are known for their power, performance, and
quality and have been rated as top performers in notable PV module
reliability scorecards since 2019. Black & Veatch successfully
completed an independent assessment of Boviet Solar's manufacturing
facilities in 2022. Boviet Solar's manufacturing facilities are
located in Vietnam and the U.S.,
and it has offices in the United
States, Germany, and
China, with its global
headquarters in Vietnam. For more
information about our company and products, please visit
www.bovietsolar.com
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SOURCE Boviet Solar