WOOD MACKENZIE RANKS BOVIET SOLAR AS A TOP 10 GLOBAL PV MODULE MANUFACTURER

SAN JOSE, Calif., June 12, 2024 /PRNewswire/ -- Boviet Solar Technology Co. Ltd. (the "Company" or "Boviet Solar"), a solar energy technology company specializing in manufacturing monocrystalline PV cells, Gamma Series™ Monofacial, and Vega Series™ Bifacial PV Modules, announced today that it has been ranked as a Top 10 PV Module Manufacturer by Wood Mackenzie. Wood Mackenzie evaluated 30 different global PV module manufacturers for its ranking.

Wood Mackenzie is a global provider of data, analytics, insights, events, and consultancy services for the energy, renewables, and natural resources sectors. The company's mission is to provide businesses and governments with reliable and actionable insight and advice to lead the transition to a sustainable future.

Wood Mackenzie has developed PV module manufacturer ranking criteria based on several factors to create a transparent and fair ranking of the hundreds of PV module manufacturers on the market. Main factors affecting the rankings include:

• Module manufacturing experience
• Manufacturing capacity growth rate
• Vertical integration
• Shipment volume
• Technology maturity of the main product
• Research and development.
• Financial stability of the company
• Adherence to environmental, social, governance (ESG), and CSR standards
• Availability of third-party certifications for the main tests of the main products

Solar PV projects can be costly and risky investments for buyers and financiers. Financial institutions are willing to finance a project with client-selected components if they can be confident about the quality and durability of the solar module and the sound financial stability of the manufacturer. Being ranked as a Top 10 PV Module Manufacturer is an important indicator of Boviet Solar's reliability as a long-term industry partner with top-performing PV modules that clients and financial institutions can trust.

"It's a great honor to be included in Wood Mackenzie's rankings of leading solar suppliers," said Scott Chen, VP Global Sales, and Marketing. "Over the years, we have faced many challenges in the ever-changing market landscape and are proud to have achieved more than a decade of industry success. We are confident that our strong R&D focus, continued ESG implementation, and other initiatives will allow us to sustain our business growth and maintain our bankability while we work to fulfill and exceed the needs of our clients as we work together to scale solar globally."

"We are pleased to be recognized in Wood Mackenzie's respected rankings," said Sienna Cen, President of Boviet Solar USA. "This news follows our exciting recent announcement of our first production facility in North America in Greenville, North Carolina, where we are expected to output 2 GW of solar panels and 2 GW of PV cells annually. The new facility will enable us to continue to innovate with our technology and expand our manufacturing capacity as we ship more of our high-quality products to serve our clients."

ABOUT BOVIET SOLAR

Founded in 2013 in Vietnam, Boviet Solar, is a Tier 1 solar technology company that specializes in the manufacturing of Monocrystalline PERC, TOPCon PV cells and Gamma Series™ Monofacial, Vega Series™ Bifacial PV modules, as well as solar project development. The company offers business, financial stability, technological know-how, manufacturing excellence, top-performing PV modules, supply chain transparency and strong environmental, social, corporate governance protocol and client relations based on mutual partnership. As of January 2024, Boviet Solar's annual PV cell and PV module manufacturing capacity is 3.0 GW, it has delivered a total of 6.2 GW since inception and mainly focuses on U.S.A market.

The company works with EPCs, developers, installers, and contractors to deliver top-performing PV modules for utility-scale, commercial, industrial, and residential solar projects. With a proven track record of successfully working with many of the industry's leading players, Boviet Solar has maintained its position as a BloombergNEF Tier 1 solar module manufacturer since 2017. Boviet Solar's PV Modules are known for their power, performance, and quality and have been rated as top performers on Kiwa PVEL's PV Module Reliability Scorecard since 2019. Black & Veatch successfully completed an independent assessment of Boviet Solar's manufacturing facilities in 2022. Boviet Solar's manufacturing facilities located in Vietnam, USA and has offices in the United States, Germany, and China, with its global headquarters in Vietnam. For more information about our company and products please visit www.bovietsolar.com

SOURCE Boviet Solar