Correct understanding of BloombergNEF (BNEF) Tier 1 List.

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1. Bloomberg and BloombergNEF.

Bloomberg is an extremely famous private financial, software, data and media company in the world, headquartered in Midtown Manhattan, New York, providing information, events, and movements of businesses and macroeconomic fluctuations of countries or unique comments and trading ideas, are considered “inseparable” information channels for investors and financial traders.

Bloomberg New Energy Finance – a subsidiary of Bloomberg, also known as BloombergNEF or BNEF, is the world’s leading strategic research provider specializing in researching and evaluating roadmaps for the clean energy and transportation industries. , industry, construction and agriculture to adapt to the energy transition.

2. What is Tier 1 list?

There are hundreds of solar panel manufacturers in the market but there is no centralized information channel to support purchasing units and stakeholders to transparently distinguish between brands and suppliers. together. Faced with that need, BNEF has developed a hierarchy based on bankability. The result is that the Tier 1 list is known to the market as a list of reputable, highly reliable panel manufacturers and has been appraised by many banks. BNEF does not provide a list of Tier 2 or Tier 3 firms.

‘Bank lending ability’ – that is, the bank’s ability to accept a non-recourse loan when using that company’s products for a project. This is the main criterion of Tier 1 classification.

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3. What are the criteria for a battery company to become Tier 1?

Tier 1 is evaluated and ranked on a quarterly basis, so within a quarter, Tier 1 suppliers must simultaneously meet the following criteria:

1) Have your own brand AND have your own factory for commercial production. Not having its own brand and/or not having its own factory is not considered.

2) Has been manufacturing solar panels for over 5 years, integrating the supply chain vertically, investing heavily in research and development (R&D) activities, applying advanced robotic automation lines.

3) Within the past 2 years, that supplier must have had at least 6 different projects with a scale of over 1.5MW, supported by non-recourse loans by 6 different commercial banks (not including development banks). or export-import bank). Only projects newly financed by banks are counted, not refinancing or refinancing.

Note that the loans considered in Tier 1 are non-recourse loans. This is a very important factor, because it means that the bank will bear the risk in case the panels have problems. (Therefore, banks will carefully evaluate battery companies in the solar power projects they finance with loans.)

4) Manufacturers that have filed for bankruptcy or insolvency protection, or are in breach of major financial obligations outlined in court documents will be removed from the Tier 1 list until further information is available. new notification.

Note: BNEF reserves the right to change the Tier 1 classification criteria at any time – in particular they reserve the right to request more information to place a manufacturer on the Tier 1 list, in order to increase the reliability of the rating list.

4. How to get the Tier 1 List updated quarterly?

Tier 1 is a market research product of BNEF, not publicly available for free online. Therefore, we will not be able to find the Tier 1 list by searching on Google. (Of course there are still some cases discovered circulating on the internet, but they are old versions of previous Quarters or unauthorized versions and accuracy is not guaranteed).

Interested parties (Investors, EPC Contractors, Purchasing Units, Commercial Units, Banks…) who want to get the Tier 1 List updated quarterly, must register (subscribe) with BloombergNEF’s Solar Insight. The Tier 1 listing is part of the quarterly BloombergNEF PV Market Outlook. Note: There is a fee.

5. Recommendation:

Tier 1 only considers bankability, it is not a measure of quality. Although bankability partly reflects the product quality and reliability of the manufacturer, buyers still need to conduct appropriate due diligence when choosing products. Tier 1 is not a recommendation to purchase from BNEF.

BNEF strongly advises buyers and banks to seek the opinion of a technical appraisal company such as RINA, ATA Renewables, Wood Plc, PVEL, Black & Veatch, TUV, E3, STS Certified, Clean Energy Associates , PI Berlin, Pvbuyer, Enertis, Oravia, Leidos Engineering, the Austrian Institute of Technology (AIT) or Phoventus.

In the Tier 1 list, BNEF uses PVEL’s technical appraisal report. Specifically, in BNEF’s Tier 1 list, you will see that there are manufacturers marked with a star at the top, meaning that those manufacturers have been evaluated by PVEL. (Seraphim battery company is one of them).

(PVEL is the leading independent laboratory for the downstream photovoltaic and energy storage industry. Experts in testing the reliability and performance of panel and storage technology. Reviews of PVEL supports developers, investors and project owners to minimize risks, optimize finances and improve system performance throughout the project lifecycle. Seraphim has been recognized by PVEL for many years in a row. “Top Performer” ranking for 2021 has just been announced.)

6. Some details about Seraphim Battery Company:

Seraphim is a world-class researcher, developer, manufacturer and marketer of photovoltaic panels. Since its founding in 2011, Seraphim has achieved remarkable achievements, surpassing most of its competitors in production capacity and number of innovative designs. Seraphim holds firmly to the belief that innovation is the main driver of progress. Seraphim is recognized by the Jiangsu government as a Batch I Smart Manufacturing Plant, achieving the Witness Laboratory Accreditation Certificate (WMTC) of CSA, DEKRA and the CTF Laboratory Certificate of TUV SUD. These are examples of Seraphim’s efforts and achievements in innovation. We are proud to be a leader in the PV industry in technological innovation. Seraphim has been rated by BNEF as a Tier 1 panel manufacturer for 7 consecutive years up to now. Currently, Seraphim has a global production capacity of 5.5 GW, which will increase to 9GW by the end of 2021. Seraphim serves customers worldwide with high-quality products and professional services. By the end of 2020, 11GW Seraphim

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