Bloomberg recently named Chinese inverter manufacturer Hopewind to its Tier 1 list of leading inverter developers, highlighting the company’s successes in the space. This year, Hopewind will be demonstrating its products at Intersolar Europe 2024 in Munich and here, the company speaks to PV Tech about its work in the international solar sector, and its plans for investment and commercialisation.
PV Tech: Can you introduce Hopewind to our readers?
Hopewind: Hopewind was established in 2007 and listed on the Shanghai Stock Exchange in 2017. The company specialises in designing and producing renewable and electrical solutions. Our products include wind power converters, PV inverters, Power Conversion Systems (PCS), IGBT hydrogen production power supply and variable-frequency drives.
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As a pioneer in technical innovations, Hopewind participated in the scientific research project Wingrid, supported by the EU Horizon 2020 through the DNV Netherlands Laboratory. In 2023, Hopewind’s wind power converter received the world’s first grid-forming certificate issued by DNV.
Hopewind has also been recognised by Bloomberg New Energy Finance as a Tier 1 inverter maker, and selected as the only Chinese Inverter company on 2024 Smarter E Award shortlist with its 385kW utility-scale string inverter.
With a remarkable track record, Hopewind has shipped over 150GW of renewable energy products worldwide.
How are your products and solutions differentiated from what is in the market?
Compared with products and solutions from other competitors, Hopewind’s inverters have significant technical advantages in the following aspects:
- Adaptive voltage
Hopewind’s inverters can adapt to multiple grid topologies at different voltage levels and are mainly used in commercial and industrial (C&I) fields. This feature enables users to use it flexibly in national power grids in different regions, greatly improving the compatibility and adaptability of the equipment.
- Cloud network code
Hopewind’s inverters support grid code storage in the cloud, which can significantly reduce the need for updates and maintenance of the inverter’s software. Through cloud management, users can more conveniently upgrade and maintain systems, reducing operation and maintenance costs.
- Sic technology
The application of Sic (silicon carbide) technology makes the inverter more reliable. Sic material has the characteristics of high resistance and high efficiency, which allows the inverter to operate stably under high temperature and high load conditions, extending the service life of the equipment.
- IGBT single tube technology
Hopewind breaks through the power limitations of string inverters and adopts IGBT single tube technology. This innovation enables the inverter to handle greater power output to meet the needs of large power C&I users, and raises the power density of the inverter.
These technical advantages enable Hopewind’s inverters to occupy a favourable position in market competition and provide users with more efficient and reliable solutions.
Give us some details about your international business. How much of Hopewind’s sales are abroad and what is the long-term goal there?
Hopewind’s overseas business is booming, and has achieved major business breakthroughs in many countries. Hopewind’s main overseas markets include Europe, Asia and South America, and we have established localised and professional service teams in some countries.
In the long run, we are still optimistic about the European and Southeast Asian markets. Next, we will focus on these two markets and make full efforts to deploy with the model of superior products, plus localised teams and high-quality partner cooperation.
What are the company’s long-term plans for investment and commercialisation?
In the future, Hopewind will strategically focus on commercialisation to capitalise on opportunities in the global energy storage and solar markets. Despite recent challenges in Europe’s residential energy storage sector, the company anticipates strong growth in the C&I and utility-scale energy storage markets, driven by strategic investments and partnerships with investors and engineering, procurement and construction (EPC) companies.
In South America and India, declining inventory levels and motivated distributors indicate a positive outlook for increased installation volumes. Hopewind is committed to refining its products to meet diverse market needs, leveraging competitive offerings and localised teams to enhance market penetration. These efforts aim to boost sales and secure long-term partnerships, positioning Hopewind as a trusted leader in the global energy sector.
What did the Bloomberg Tier 1 designation mean for Hopewind, and how does it help you in the industry?
The list indicates that only seven companies worldwide have successfully made it to the first echelon (Tier 1), with Hopewind being one of them. Being ranked on the Tier 1 list fully demonstrates Hopewind’s global influence and competitiveness in the field of photovoltaics. For Hopewind, this recognition brings several key benefits.
Enhanced credibility and trust: The designation boosts Hopewind’s credibility and trustworthiness among customers, investors and industry stakeholders, indicating high-quality and reliable products.
Easier access to financing: Projects using Hopewind’s Tier 1 inverters are more likely to secure financing from banks and financial institutions, reducing associated financial risks and attracting more investors.
Competitive advantage: Hopewind gains a market edge, differentiating itself from non-Tier 1 manufacturers, which can lead to increased business opportunities and market share.
Support for growth and expansion: The designation aids Hopewind in entering new markets and scaling operations, facilitating international partnerships and larger projects.
