HEFEI, China, May 28, 2019 /PRNewswire/ -- Sungrow, the global leading inverter solution supplier for renewables, released its 2018 Corporate Social Responsibility (CSR) report. The report illustrates the Company's robust commitments to building a sustainable economy and its efforts in the area of environmentalist advocacy. The foundational pillars of the report continue to be shareholders, customers, employees, suppliers and the community-at-large.
The report is prepared following the guidelines of Global Reporting Initiative (GRI) Standard, considered the universally accepted standard for sustainability reporting. Key highlights include:
Facilitating sustainable economic growth
- In 2018, Sungrow had revenue of over USD$1509.3 million, and profit of over USD$117.9 million.
- As of the end of 2018, Sungrow had over 79 GW of inverters installed worldwide cumulatively. Equivalent to generating about 102,000 GWh of clean electricity per year and eliminating 81.6 million tons of CO2.
Activating innovations on technology
- Focusing on innovation with 40% of the Company's workforce assigned to R&D. The R&D input was over USD$70.2 million in 2018.
- New patent applications in 2018 reached 338 with the cumulative patent applications totaling over 1500.
Forging ahead with employees
- Increasing the investment on equipment and operation in the safety field, with USD$1,674,000 invested in 2018.
- Establishing the Sungrow Business School for sustained dedication on the competency development of the team.
Empowering the community
- Having supported 300,000 poverty-striven households and 2,200 underdeveloped villages with over 1,200 MWh totally through PV-oriented poverty alleviation programs as of December 2018.
- Growing dedication to helping people to explore their passion for clean energy, such as an initiative to donate books to village primary schools, sharing the insights of solar with Indian undergraduates and inviting students to visit the self-owned Teenager Green Lab.
"At Sungrow, we see a sustainable future full of opportunities as we are committed to running a company that embraces social responsibility as a core value," said Prof. Cao Renxian, Chairman of Sungrow. "We must be increasingly resilient in developing cutting-edge solutions and tackling climate change so as to bring forth consequentially better collective living environment in the future."
To view the full CSR report and learn more about Sungrow's in-depth sustainable development strategy, visit:
Sungrow Power Supply Co., Ltd ("Sungrow") is a global leading inverter solution supplier for renewables with over 82 GW installed worldwide as of March 2019. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters, with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial, and residential applications, as well as internationally recognized floating PV plant solutions. With a strong 22-year track record, Sungrow products power installations in over 60 countries, maintaining a worldwide market share of over 15%. Learn more about Sungrow by visiting www.sungrowpower.com.
SOURCE Sungrow Power Supply Co., Ltd