Sungrow Partners with XBSolar to Distribute Residential and Commercial Inverters in Vietnam

HO CHI MINH CITY,Vietnam,April 9,2020 -- Sungrow,the global leading inverter solution supplier for renewables,has signed an agreement with Vietnamese clean energy company,XBSolar,to distribute 40 MW of the Company's commercial and industrial (C&I) and residential inverter solutions to Vietnam within a year,escalating its efforts to empower more communities in one of the Southeast Asia solar hubs.

Sungrow Partners with XBSolar to Distribute Residential and Commercial Inverters in Vietnam

Under the agreement,Sungrow will provide a wide portfolio ranging from 3 kW to 110 kW with an optimal performance in C&I and residential installations. In particular,the 1000V commercial inverter SG110CX equipped with 9 MPPTs is compatible with bi-facial modules and functions excellently in complex terrains.It is also resilient toharsh conditions armed with the IP66 and C5 corrosion class protection. With built-in PID recovery function,the solution maintains unprecedented yieldsfor solar power plants.

XBSolar,a subsidiary of a Vietnam based company Xuan Bach,has a 600m2 warehouse locally which enables quick distribution across the country,and a customer care center to provide responsive warranty services to ensure maximized ROI for investors.

"The partnership with Sungrow adds significant impetus to our drive to energize Vietnam. Sungrow is our exclusive inverter supplier. The company's commitment to the region is obvious and together we're looking forward to tapping more potential for the sustainable economy," said Mr. DUONG Anh Dong,Chairman of XBSolar.

Since the entry to the Vietnamese market in 2017,Sungrow has established the branch in Ho Chi Minh City with a professional local team covering sales,technical support and after-sale service throughout the nation. The Company leads this market with a 35% market share in the utility-scale sector and a 30% in the rooftop segment.

"The competitive product performance on the field,talented team,unmatched delivery capability and 100% bankability are all critical factors to our growth in this vibrant market," said Thang Vu,Country Manager of Sungrow Vietnam.

Vietnam is witnessing booming demand on rooftop solar projects with favorable incentives from the government,in a bid to lift the share of renewable power sources in national energy mix.

"We're honored to be the inverter of choice by growing number of industry players with joint efforts with XBSolar and anticipate more growth in the quarters ahead," Vu concluded.

About Sungrow

Sungrow Power Supply Co.,Ltd ("Sungrow") is the world's most bankable inverter brand with over 100 GW to be installed worldwide as ofDecember 2019. Founded in 1997 by University ProfessorCao 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 23-year track record in the PV space,Sungrow products power installations in over 60 countries,maintaining a worldwide market share of over 15%.www.sungrowpower.com.

Photo - https://photos.prnasia.com/prnh/20200409/2773230-1?lang=0