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

PVTIME – 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.

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 12 MPPTs is
compatible with bi-facial modules and functions excellently in complex
terrains. It is also resilient to harsh conditions armed with the
IP66 and C5 corrosion class protection. With built-in PID recovery function,
the solution maintains unprecedented yields for 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.

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