Renewable energies have grown in importance over the years due to growing environmental concerns in the Philippines. A study by the Institute for Energy Economics and Financial Analysis from 2020 found that solar and wind energy could increase their share of the country's supply mix from 5.4% to 43.8% – and thus the government's forecast of 26.9% to 2030 would surpass. Solar energy, in particular, has become the fastest growing alternative to traditional fossil fuels. When it comes to solar modules, however, one manufacturer is at the fore. According to the recently published quarterly rating report by PV-Tech and Solar Media Research for 2021-Q1 PV ModuleTech Bankability Ratings, LONGi Solar maintains its position as the only manufacturer in the top position and remains the only company with an AAA rating among module manufacturers. the highest attainable grade. Headquartered in Xi'an, China, LONGi focuses on manufacturing PV products and providing solar technology solutions. The product range extends from wafers, cells, modules and PV solar systems to solar power systems. It is the exclusive module supplier for the 232 MW integrated wind and solar power plant in Ilocos Norte, the largest in the Philippines. In the module supplier hierarchy, the number of module suppliers with the grade A or B continues to decrease. Seven companies are rated A (AAA, AA, A) and three are rated B (BBB, BB and B). PV Tech's final bankability score is derived using a series of statistical analyzes that collect a wealth of data for each PV module supplier dating back 5 to 10 years. The scores are derived for each company's financial and productive health – these are the two main drivers of overall bankability. The health status of the manufacturing industry is broken down further into the values for delivery / shipping, capacity and technology of the PV module suppliers. Compared to other A-grade competitors, LONGi Solar is in the positive range in almost all important key figures. In R&D spending, LONGi has been leading the PV industry in R&D investment in recent years and has become the key factor in transitioning the whole industry from multi to mono as the dominant technology. As the Philippine government shifts towards clean energy resources and environmentally friendly technologies, private sector interest in renewable energy will continue to grow. And LONGi is arguably the most important manufacturing company in the solar energy sector and the largest supplier of PV wafers with a mono capacity of over 60 GW in China. LONGi's guidelines for the delivery of modules for 2020 are over 20 GW. Thanks to the vertical integration of wafers and cells through to module production (all mono), LONGi has today received recognition as the largest global PV module supplier.
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