“Bankable Tier 1” title for Goldi Solar by BNEF

Goldi Solar, one of the leading Indian solar panel manufacturers, EPC provider and independent power producer (IPP), bags the title of “Bankable Tier 1” solar panel manufacturer by Bloomberg New Energy Finance (BNEF) for Q1, 2020.

BNEF developed its tiering system for PV module makers to create a transparent differentiation between the hundreds of manufacturers of solar modules in the market. The classification is based on bankability, specifically whether projects using a particular brand of solar modules are likely to be offered non-recourse debt financing by non-development banks. Tier 1 module manufacturers are those that have provided products to six different projects, which have received non-recourse financing by six different banks in the past two years. Nevertheless, Goldi Solar has met all the criteria’s to be on this list of Tier 1 and it is the fourth Indian company listed.

Ishver Dholakiya, Managing Director – Goldi Solar, said, “This is a big win for us and we worked diligently to reach this milestone. We recognize that major PV project developers, EPCs and financers rely on the BNEF report and we believe this announcement will open up a broader section of the market for our high-quality solar modules”.

Bharat Bhut, Director – Goldi Solar, said, “We are delighted today to be included in this list of Tier 1 manufacturers, our panels which have been supplied to the projects have fulfilled BNEF standards. This “Tier 1” title is important to us which will not only attract new opportunities but it will also help us to complete few pending International orders and to penetrate more easily in markets like Europe and US as a majorbankable supplierof the solar PV industry and allow us to further contribute more towards sustainability and greener future”.