CSUN receives tier one status from Bloomburg
CSUN, a specialized manufacturer of solar cells and modules has announced that it has achieved "Tier 1" status on the Bloomberg New Energy Finance ("BNEF") PV Module Maker Tiering System.
BNEF has developed a tiering system for PV module makers based on bankability, helping developers, EPCs and investors to get an easy and transparent overview of the complex module manufacturing market.
BNEF defines Tier 1 manufacturers as those, which have provided products to three different projects financed non-recourse by three different (non-development) banks, in the past two years. This selection criterion was defined as modules used in non-recourse financed projects have already been evaluated by commercial banks, and therefore proved to meet their strict quality standards.
Jenny Chase, Manager, Solar Insight at Bloomberg New Energy Finance acknowledges: "BNEF confirms that CSUN will be included as a Tier 1 supplier in its Q2 2014 PV Market Outlook, available to suppliers.
"This is an important milestone on our strategy path to continuously expand CSUN's global reach by supplying high quality products and being a safe choice for our partners and customers in a quickly changing industry", comments CSUN's CEO Stephen Cai. "Having achieved the tier 1 module supplier status allows developers and EPC customers easier access to financing instruments, which is an important pre-requisite to realize utility scale solar installations. The BNEF ranking system is a trusted evaluation tool, which carries a lot of weight with many of our customers."