Chinese solar manufacturer ReneSola has created a comprehensive guide to its PV operations, the Bankability Book, which the company believes will help businesses to secure financing.
The Bankability Book provides financial houses with key details of ReneSola’s business that will help facilitate the decision making process. The module manufacturer believes that the resource will prove invaluable for smaller businesses and banks with minimal experience of the solar market.
“In today’s financial climate, particularly in the Eurozone and the US, banks need convincing that the money they lend will see a return,” says Xianshou Li, CEO of ReneSola. “We want to lead the solar industry in terms of providing the information finance houses need, so that our customers can get on with making money from their ReneSola panels at the earliest opportunity. We want to be transparent about our work and this document will help investors, installation companies and banks get everything they need.”
The company notes that a standard bankability analysis process takes into account the legal, technical and economic risks of a project, with the PV modules accounting for the majority of the technical assessment. For a PV module to be deemed bankable, generally it must have a proven track record of yield and long-term performance. Suitable guarantees and warranties are also checked and an assessment of cell and module technology is carried out. The Bankability Book looks to address each of these areas and will be updated regularly to reflect the requests of financial houses.
ReneSola acknowledges that there is increasingly little to choose between manufacturers in terms of technology and hopes that the Bankability Book will provide a key point of differentiation, by helping PV developers gain approval for the projects in a timely manner.
