GoodWe7March20232:00pm–3:30pmGMT,London3:00pm–4:30pmCET,Berlin,Madrid,Paris4:00pm–5:30pmEET,AthensUtility-scalePVandstringinvertermarkettrendsGoodWeDavidSánchezSalesDirectorEMEA–Utility&LargeScaleGoodWeRyanAlexanderResearchleadAuroraEnergyResearchAlvaroZanónTechnicalDirectorEMEA–Utility&LargeScalePeijunShenSeniorManagerProductMarketingLONGiMarkHutchinsEditorpvmagazineMarjiaMaischEditorpvmagazineGoodWeUtility-scalePVandstringinvertermarkettrendsBayWaAlbertoCampayoHeadofOperationsProsoliaEnergyFelixJetterTeamLeaderPowerPlantEngineeringNitishSinhaProjectEngineerandInverterspecialistEcorusMarkHutchinsEditorpvmagazineMarjiaMaischEditorpvmagazine7March20232:00pm–3:30pmGMT,London3:00pm–4:30pmCET,Berlin,Madrid,Paris4:00pm–5:30pmEET,AthensDoyouhaveanyquestions?❓🙋🙋SendtheminviatheQ&Atab.👉👉Weaimtoanswerasmanyaswecantoday!Youcanalsoletusknowofanytechproblemsthere.Wearerecordingthiswebinartoday.🎥🎥We‘llletyouknowbyemailwheretofinditandtheslidedeck,soyoucanre-watchitatyourconvenience.👀👀💡💡Welcome!Utility-scalePVandstringinvertermarkettrendsGoodWeMarjiaMaischEditorpvmagazineMarkHutchinsEditorpvmagazineAlvaroZanónTechnicalDirectorEMEA–Utility&LargeScaleGoodWeWelcome7March20232:00pm–3:30pmGMT,London3:00pm–4:30pmCET,Berlin,Madrid,Paris4:00pm–5:30pmEET,AthensMarketanalysisandfuturetrendofEuropePVindustryGoodWeMarjiaMaischEditorpvmagazineMarkHutchinsEditorpvmagazineRyanAlexanderResearchleadAuroraEnergyResearch7March20232:00pm–3:30pmGMT,London3:00pm–4:30pmCET,Berlin,Madrid,Paris4:00pm–5:30pmEET,Athens©AuroraEnergyResearchLtd.–CONFIDENTIALMacrotrendsinEuropeanSolarPVinvestmentMarch20232CONFIDENTIALAgendaI.EuropeanpolicyenvironmentforsolarPV1.RePowerEUtargetsandimplicationsforbuildoutrates2.EUSolarEnergyStrategyII.RevenuemodelsforsolarPV1.Governmentsupportschemes2.PPAsupply/demandbalancebymarket3.SolarPVcapturepricesbymarket33CONFIDENTIAL40020608010305070902025201520202030+11TargetRESshareoffinalenergyconsumption%▪The‘Fitfor55’(FF55)packagetargeted1067GWREScapacityby2030including480GWofwindand420GWofsolar▪TheREPowerEUplanaddsafurther169GW,raisingthetargetto1236GWby2030withafocusonsolarPV,aimingfor320GWby2025andalmost600GWby2030▪42GWofsolarwouldneedtobedeployedannuallyuntil2025,risingto53GWfrom2026onwardswhile32GWofwindwouldneedtobedeployedannuallyto2030▪Theserepresentacumulativeaverageof80GWrequiredannually,4xfasterthanaveragebuildrateoverthelast10years▪Tosupportdeploymentofthesecapacities,theCommissionalsopresentstheEUsolarstrategyandEuropeanSolarRooftopInitiativeandplanstospeeduppermittingandinnovationSources:AuroraEnergyResearch,EuropeanCommission,Eurostat,WindEuropeTheCommissionhasproposedtoincreasetheEUrenewablestargetto1236GWofcapacityby2030,requiring3xfasterdeployment1)ShownforEU-27only.2)Asattheendof2021.3)OtherRESincludeshydroandbiomass.I.REPowerEUPlanTargetinstalledREScapacitiesby20301GW2054804802004205891661671672000400600800100012001400FF55Currentinstalledcapacity2REPowerEU57110671236+169Windandsolarcapacitycommissionedperyear1GWWindOtherRES3Solar40%45%+5AverageREScapacityadditionsinthe2010s:19.6GW/yearAverageREScapacityadditions2019-21:28.9GW/yearAvgbuildrate(2019-2021)Avgbuildrate(2011-2019)Requiredsolardeploymentincreasesastargetsrampup22%Achievedin2020,surpassingthe20%target4CONFIDENTIALSources:AuroraEnergyResearch,EuropeanCommissionTheEUSolarEnergyStrategyoutlinesacomprehensivevisiontorapidlydeploysolarenergyII.EUSolarEnergyStrategyTheEUSolarEnergyStrategyoutlinesacomprehensivevisiontoswiftlyreapthebenefitsofsolarenergy,andpresentsfourinitiativestoovercomekeychallengesfaced.▪Aimsatunlockingthevast,underutilisedsolargenerationpotentialofrooftopswhichcouldprovidealmost25%oftheEU’selectricityconsumption▪Permittingforallrooftopsolarinstallationswillbelimitedtoamaximumof3months▪Provisionswillbemadetoensurethatallnewbuildingsare“solarready”andinstallationofrooftopPVmadecompulsoryfor:i.Allnewpublicandcommercialbuildingsby2026ii.Allexistingpublicandcommercialbuildingsby2027iii.Allnewresidentialbuildingsby2029▪TheCommissionpresentsaRecommendationonpermittingtohastenandsimplifytheprocedures▪EnsureRESassetsqualifyforthebestproceduresavailableandaredeemedofpublicinterest&safety▪Establishclearlydefined,fastandasshortaspossibledeadlinesforallthepermittingsteps▪EstablishbindingmaximumdeadlinesforallrelevantstagesoftheEIAprocedure▪Createasingleunifiedapplicationprocessfortheentirepermittingandgrantingprocess▪Allowapplicantstoupdatethetechnologyspecificationsthroughtheprocesstofacilitatetheuptakeofinnovativetechnologies▪AimsatensuringtheavailabilityofanabundantskilledworkforcetofaceupthechallengeofproducinganddeployingsolarenergyallacrosstheEU▪MemberStatesareencouragedtoanalysetheskillsgapinthesolarenergysectoranddeveloptrainingprogrammesfitforpurpose,takingintoaccountthepotentialtoincreasewomen’sparticipation▪AtEUlevel,aspartofREPowerEUplan,theCommissionwillbringtogethertherelevantstakeholdersintherenewableenergysector,tosetupanEUlarge-scaleskillspartnershipforonshorerenewableenergy,includingsolarenergy,underthePactforSkills.▪AimstosecurediversityofsuppliesthroughmorediverseimportsandscaledupsolarPVmanufacturingintheEUofinnovativeandsustainablesolarPVstomitigatepotentialsupplyrisks▪ThealliancewillincludearesearchandinnovationpillarwithstronglinkstoHorizonEuropeandatEUlevel:−InvestEUcanprovidede-riskedfinancingtoprivateinvestments−InnovationFundcanchannelfundingtowardsinnovativezeroandlow-carbonequipment−RecoveryandresilienceandCohesionpolicyfundstosupportrelevantprojectsEuropeanSolarRooftopsInitiativeFasterandsimplerpermittingproceduresAvailabilityofabundantskilledworkforceEuropeanSolarPVIndustryAlliance5CONFIDENTIALAgendaI.EuropeanpolicyenvironmentforsolarPV1.RePowerEUtargetsandimplicationsforbuildoutrates2.EUSolarEnergyStrategyII.RevenuemodelsforsolarPV1.Governmentsupportschemes2.PPAsupply/demandbalancebymarket3.SolarPVcapturepricesbymarket6CONFIDENTIAL▪IfCfDswererolledoutasthedefaultrenewablesubsidyschemefornewassets,thiswouldespeciallyaffectdevelopersinmarketswherethecurrentinstrumentallowsformerchantupsides−Forinstance,inGermanyandtheNetherlandssupportschemesservesasdownsideprotection,butallowsdevelopersbenefittingfrompricepeaks,whichwashistoricallymeanttofostermarketintegrationofrenewables−Yet,CfDscouldhelpdevelopersreducecommercialrisksaroundcoveringtheirlevelisedcosts,bringingdownfinancingcost−StrongerrelianceonCfDscouldchallengetheuptakeofPPAs,asCfDseliminatecounterpartyriskandcouldcrowdoutPPAsupply▪ImposingCfDsonexistingassets(thosenotcoveredbyPPAs,e.g.post-subsidyassets)wouldbeanevenstrongerchallengetomerchantbusinessmodels▪CreditguaranteescouldmakethePPAmarketmorenavigablefordevelopers,reducingofftakerriskandallowingthemtoaccesssmallerofftakersegments▪Shouldthemajorityof(renewable)developersbecoveredbyCfDsorPPAs,anadditionalrevenuecapwillnotbenecessaryforthesetechnologiesRenewablesupportschemes:SomemarketsallowformerchantexposureSources:AuroraEnergyResearchImpactofEuropeanPowerMarketreformdiscussiononmerchantexposure1)Exceptforoffshore.InDenmark,aninnovativetwo-sidedCfDexists.2)Franceallowsupto18monthsmerchantwindowbeforeenteringintotwo-sidedCfDcontract.SubsidyfreeOne-sidedschemeCfDwithmerchantexposureGermany:MarketpremiumschemeallowsformerchantupsidePoland:NotallgenerationneedstobesoldunderCfDNordics:SubsidiesabolishedforallmarketsbesidesDenmark–NO/SWE/FINaremerchantmarketwithPPAs1Spain:AdjustmentmechanismallowsREStoparticipateinhighermarketpricesGovernmentsupportschemesarestillthebiggestdriverofsolarbuild-outacrossmostofEurope,withvaryingdegreesofmerchantexposureWhat’snext:Addressingthetrade-offstheCommissionisfacingIIITwo-sidedCfD2Feed-in-tariffNetherlands:SDE++asdownsideprotection,allowingtoparticipateinhighprices7CONFIDENTIALSource:AuroraEnergyResearchRisingPPAdemandfromutilities&corporatesprovidesanopportunityfornewbuildrenewablestosecurestablerevenues1)AcrossAurora‘s18modelledcountriesinEurope.Electrolyserdemandestimatedbasedoncountrytargets.202520222030+337%ElectrolyserUtilityCorporateNewbuildrenewablesPPAdemandinEurope1TWhNewbuildrenewablesPPAdemandin2030TWhGBRESPFINDEUFRASWENLDGRCITAPOLNORBELPRTHUNDNKIRXROUBGR▪PPAdemandtodayisderivedfromAurora’sownPPAdatabase,whilefuturedemandisestimatedbasedonAurora’sforecastofsectoralpowerdemandgrowthcombinedwithassumptionsaroundtheshareofeachsectorthatwillrequireaPPAandhavethenecessarycreditworthinessratings▪PPAdemandisexpectedtoquadrupleoverthenextdecade,drivenbyEurope’sstrengtheningdecarbonisationtargetsandanincreasinglydiscerninggreenconsumerbase▪PPAdemandin2030isconcentratedinNorthwestEurope,withthetopfourcountriescontributingover50%oftotaldemand▪In2030,largemarketssuchasFranceandGermanyarestillundersupplied,havinghigherdemandforPPAsthancanbemetbytheirdomesticnewbuildrenewablefleets▪Cross-borderPPAscontinuetogrowinpopularitybuthavelimitedapplicationduetothebasisspreadriskbetweendifferentmarkets40%7%107%84%94%123%60%116%268%91%141%94%553%41%50%179%192%169%Marketsize,compositionandoutlookIIIxx%Oversuppliedxx%UndersuppliedDetailedcountrydataavailableinAurora’sEuropeanPPAReport(availableinJune).8CONFIDENTIALSolarcaptureprice1discounttobaseloadpricein2030%,CentralscenarioSources:AuroraEnergyResearchThegenerationmixandloadfactorsaffectbaseloadmarketpricesandcapturepricediscountsacrossEurope1)Usingcapturepricesassumingnoeconomiccurtailmenti.e.plantscontinuetogenerateduringnegativepriceperiods2)Averageacrosspricezones3)AverageacrossAurora’s24modelledcountriesinEuropeESTGBRBGRBELDNK2DEUITA2ESPFRAGRCPOLHRVHUNIRLLTULVANLDSVNNOR2PRTROUSRBSWE2Averagebaseloadprice(2025–2040)EUR/MWh(real2021),CentralscenarioEUR<60/MWhEUR60-80/MWhEUR>80MWhLegendHighlevelofhydropowergenerationdepressespowerpricesintheNordics,loweringcapturepricerevenuesavailableforrenewablesMostcountriesinWesternEuropeseeaveragebaseloadpricesbetweenEUR60-80/MWh,largelydrivenbythemarginalcostofgasplantsHigherlevelsofthermalgenerationexposeregionsinSouth-eastEuropetoincreasingcarbonprices,puttingupwardspressureonpowerpricesandthereforerenewablecapturepricesVProjecteconomicsDetailedcountrydataavailableinAurora’sPowerandRenewablesMarketsubscriptions.Europeanaverage2▪Duetothehighcorrelationofsolargeneration,solarcapturepricesseeasignificantdiscounttobaseloadpricesby2030acrossmostofEurope▪Thecapturepricediscountisthehighestincountrieswithrelativelyhighsharesofsolargenerationcombinedwithhighlevelsofthermalgeneration,leadingtohigherratesofcannibalisation(e.g.South-EasternEurope)9CONFIDENTIALSource:AuroraEnergyResearchEuropeanSolarMarketAttractivenessreportofferingsChangessinceprioryearreportEuropeanSolarMarketAttractivenessreport:Assistingyouwithmarketentryandpre-feasibilityactivitiesin24EuropeanmarketsEuropeanRenewablesMarketAttractivenessreportOutlineoftheEuropeanSolarReport✓Overviewof18Europeanpowermarketsandtheeconomicsofutility-scalesolarPV✓Forecastsofmajortrendsimportanttoopportunityforsolarincludingdemandgrowth,commodities,hydrogen✓Marketattractivenessoverviewofmarketandpolicyindicators(inc.strengthofsubsidyschemes,permittingrisk,gridconnectioncosts/ease,locationalsignals,attractivenessforco-location)✓Marketsizingincludingtotaldemand,solarcapacitygrowthandsolarcapacitygrowthunderNetZero-alignedpolicies,bycountry✓PowerPurchaseAgreementmarketsizingandsupply/demandbalancebycountry✓Heatmapstakingintoaccountforecastedbaseloadpricesandsolarcapturepricestoquicklyseethebestmarketopportunities✓Summaryofkeypolicies&subsidyschemesbycountryandtheirdifferencesforutility-scalesolarPV✓Forecastedreturnsforutility-scalesolarPVforfullymerchantcommercialoperationstartingin2025and2030✓Summaryofrenewablesinvestmenttrendstohaveaviewofwhichmarketscapitalisbeingallocatedto✓OneonehourcallwithourEuropeanresearchteamtodiscussthereport✓Updatedrankingsbasedon2023fundamentally-modelledpriceforecastswithcommentaryonyear-on-yearchanges✓(new!)Attractivenessofco-locationbusinessmodelsacrossmarkets✓(new!)Analysisoflocationalsignalswithinmarkets✓(new!)Analysisofbehind-the-metersolarPVSupportedbyfundamentalmodellingin24Europeanmarkets–Baltics(Estonia,Latvia,Lithuania)–Croatia–GB–I-SEM–Germany–France–Iberia(Portugal,Spain)–Poland–Nordics(Denmark,Finland,Norway,Sweden)–Netherlands–Italy–Belgium–Greece–Hungary–Romania–Bulgaria–Slovenia–Serbia10CONFIDENTIALGeneralDisclaimerThisdocumentisprovided"asis"foryourinformationonlyandnorepresentationorwarranty,expressorimplied,isgivenbyAuroraEnergyResearchLimitedanditssubsidiariesAuroraEnergyResearchGmbHandAuroraEnergyResearchPtyLtd(together,"Aurora"),theirdirectors,employeesagentsoraffiliates(together,Aurora’s"Associates")astoitsaccuracy,reliabilityorcompleteness.AuroraanditsAssociatesassumenoresponsibility,andacceptnoliabilityfor,anylossarisingoutofyouruseofthisdocument.Thisdocumentisnottoberelieduponforanypurposeorusedinsubstitutionforyourownindependentinvestigationsandsoundjudgment.Theinformationcontainedinthisdocumentreflectsourbeliefs,assumptions,intentionsandexpectationsasofthedateofthisdocumentandissubjecttochange.Auroraassumesnoobligation,anddoesnotintend,toupdatethisinformation.Forward-lookingstatementsThisdocumentcontainsforward-lookingstatementsandinformation,whichreflectAurora’scurrentviewwithrespecttofutureeventsandfinancialperformance.Whenusedinthisdocument,thewords"believes","expects","plans","may","will","would","could","should","anticipates","estimates","project","intend"or"outlook"orothervariationsofthesewordsorothersimilarexpressionsareintendedtoidentifyforward-lookingstatementsandinformation.Actualresultsmaydiffermateriallyfromtheexpectationsexpressedorimpliedintheforward-lookingstatementsasaresultofknownandunknownrisksanduncertainties.Knownrisksanduncertaintiesincludebutarenotlimitedto:risksassociatedwithpoliticaleventsinEuropeandelsewhere,contractualrisks,creditworthinessofcustomers,performanceofsuppliersandmanagementofplantandpersonnel;riskassociatedwithfinancialfactorssuchasvolatilityinexchangerates,increasesininterestrates,restrictionsonaccesstocapital,andswingsinglobalfinancialmarkets;risksassociatedwithdomesticandforeigngovernmentregulation,includingexportcontrolsandeconomicsanctions;andotherrisks,includinglitigation.Theforegoinglistofimportantfactorsisnotexhaustive.CopyrightThisdocumentanditscontent(including,butnotlimitedto,thetext,images,graphicsandillustrations)isthecopyrightmaterialofAurora,unlessotherwisestated.Thisdocumentisconfidentialanditmaynotbecopied,reproduced,distributedorinanywayusedforcommercialpurposeswithoutthepriorwrittenconsentofAurora.DisclaimerandCopyright11BestPracticesforModuleTechnologiesandApplicationsGoodWeMarjiaMaischEditorpvmagazineMarkHutchinsEditorpvmagazinePeijunShenSeniorManagerProductMarketingLONGI7March20232:00pm–3:30pmGMT,London3:00pm–4:30pmCET,Berlin,Madrid,Paris4:00pm–5:30pmEET,AthensPropellingthetransformationLONGiSolar@2022PropellingthetransformationBestPracticesforModuleTechnologiesandApplicationsTheWorldLeadingSolarTechnologyCompanyCustomer-drivenValueCreation100MWUtilityScaleSolarPowerPlantHuanglongCounty,Yan’an,ShaanxiPronvice,ChinaPropellingthetransformationLONGiSolar@2022MilestonesofLONGiEachmilestonehasbecomeakeyforcetopromotethedevelopmentoftheindustry2000LONGiwasestablished2005Formationofannualproductioncapacityof30tonssiliconingotThebeginningTheeraofsemiconductortechnologyaccumulation2015EnteredsolarcellandmodulemarketWorld’sNo.1inshipmentofmonocrystallinemodule2018Theworld'smostvaluablePVmanufacturer￮PERCTrend￮LIRTechnology￮BifacialTechnologyIndustrialupgradingTheeraofpromotingmonocrystallinebacktothemainstreamTechnologicalrevolutionTheeraoftechnologicalrevolutioninthemonocrystallinesiliconwafers2012A-sharemarketlisting2014World’sNo.1inproductionofmonocrystallinesiliconwafer￮RCzIngotpulling￮DiamondWireSlicingTechnology￮M1/M2SiliconstandardEnergytransformationTheeraofutilizingsolartechnologytochangetheearth2019CertifiedthelowcarbonfootprintbyCERTISOLISSetanotherstandardforultrahighefficiencymodule￮M6SiliconWaferStandard2020Setabrandnewindustrystandard￮M10SiliconWaferStandard2021LONGiestablishedtheHydrogenBULONGiLifecycleQuality￮ProductlifecyclequalitymanagementSolarforsolar,SolarforallEveryoneshouldbeabletobenefitfromcleanenergy2022LONGiintroducedtheHi-MO6,itsfirstmoduledesignedexclusivelyfortheglobaldistributedconsumermarket.￮LONGi'shigh-efficiencyHPBCcelltechnologyLONGibrokethreemoreworldrecordsforsolarcellefficiency￮N-typeTOPConSolarCellEfficiency￮P-typeTOPConSolarCellEfficiency￮HJTSolarCellEfficiencyWaferShipment(2021)ModuleShipment(2021)PropellingthetransformationLONGiSolar@2022Howdowethinkonthe‘BestPractice’IntheEyesofInvestor,thePlantisanInvestmentCAPEXOPEXRevenuePVPLANTElectricityMarket€€MWh€So,LCOEistheanchorfor‘bestpractice’LCOE=CapitalCost+OperatingCostofassetGeneratedEnergy(kWh)ModuleisthemostimportantcomponentinsystemtodrivetheLCOEdown.PropellingthetransformationLONGiSolar@2022Whatanotherbeautifulthingofhighermoduleefficiency,itcandrivedowntheBOScostofthewholesystemMountsandfoundation-2.8%Combinerbox/Cables-1.1%Labor-3.3%Land/Hi-MO5540W560WSpanish;2PTrackerIncreasing0.8%efficiencycansaveBOScost0.42c￠/WCostsavingratio21.1%21.9%Hi-MOxPropellingthetransformationLONGiSolar@2022WhatLONGididtoBOOSTtheModuleEfficiencyandYieldBifacialOptimumCellSizeGaDopedSmartsolderingHalfcutWaferQualityBGaOcontent-34%2011~2020MinorityCarrierlifetime+18%2014~2020PropellingthetransformationLONGiSolar@2022Inpast7years,LONGipromotedthePERCmodulesandMakeitthemostcompetitiveproductonMarket20.8%21.4%21.9%22.4%22.9%23.3%23.8%19.8%31033035037039041043045047049051053055057059061063020152016201720182019202020212022370335350375330340345375380385435445MonocrystallineMono-PERCHalf-cutM6wafer+9BB360535Modulepower(W)540550450M10waferSmartWeldingConventionalsinglecrystalcellefficiencyPERCcellefficiencyModulepowerModulesizestandardizationPropellingthetransformationLONGiSolar@2022THENReliabilityandLifetimeareMatterforBestPractice>19%additionalYieldbecauseoflowerdegradationandlongerlifetime.100%98%80%0120253084.95%Year1084.8%87.2%CellsizeIsc(A)Max.diodecurrent(A)CurrentfactorRequiredsafetyfactor(1+30%×75%)×1.25Safetymargin156.7510181.8001.53117.6%16611.6221.89723.9%18213.9251.79917.5%21018.4251.359-11.3%301.6306.5%ModuleCurrentMarginMechanicalLoadsDesignwith182mmmodules6railsDesignwith210mmmodules9railsTransparentBacksheetApplicationExamplePropellingthetransformationLONGiSolar@20227HighlyAcceleratedThermalCycling(HATC)PerformanceatLowIrradianceLeTIDDH+UVAgingColdconditioning+Dryheat+HFsequencetestPIDTC+UVAgingUV+TC+HFsequencetestSaltMistAmmoniaCorrosionDiverseClimateconditionsApplylowtemperatureandstaticmechanicalloadtomodulessimultaneously.AccuratelyverifytheproductreliabilityLow-temperatureMechanicalLoadPerformanceEnlargethehailstoneto35mmduringhailtest,Verifythemodulereliabilityinextremeweather.HailTestSubjectedtoamaximumwindspeedof60m/s(~17magnitudehurricane)forModuledesignandinstallationvalidate.WindTunnelThresherTestLONGimodulescanpassthehighestfireresistancetest(ItalyUNI9177Class1)FireResistanceTest……Full-ScenarioReliabilityProfessionalReliabilityAssessmentMethodsBasedontheresearchresultsofwell-knownresearchunitsandthird-partyinstitutionsintheindustry,LONGihasestablishedavarietyofdifferentiatedreliabilitytestingmethodstoevaluateproductandmaterialreliabilitymorequicklyandeffectively.CatastrophicConditionsPropellingthetransformationLONGiSolar@20228LONGiisrecognizedasa2022TopPerformer,gainingtheHighAchieverstatusinRETC(RenewableEnergyTestCenter)'sPVModuleIndexReportforthefourthconsecutiveyear.InRETC’s"PhotovoltaicModuleIndexReport”(PVMI)for2020,LONGi’sresultsinthethreekeyindicatorsofreliability,performanceandqualityidentifieditasonlycompanytoachieveanaward.LONGialsobecametheonlymanufacturertoperformwellinall8individualtests,underliningthehighreliabilityandexcellentperformanceofitsmodules.ReliabilityIndicatorsPerformanceIndicatorsQualityIndicatorsHighestAchieverPerformanceQualityReliability◦DH2000Test◦DMLTest◦PID-Free◦TC◦ModuleEfficiency◦PTC-to-STCRatio◦PANFile◦LIDTest◦ThresherTest（HF30，TC600，DH2000，DML，UVSoak）◦HailTestTheThird-partyEvaluationofProductQuality&PerformanceRETCHighAchieverfor4yearsPropellingthetransformationLONGiSolar@20229TheThird-partyEvaluationofProductQuality&PerformanceTopPerformerinPVEL’sPVModuleReliabilityScorecard6TimesSML+DML+TC+HFLID/LeTIDThermalCyclingDampHeatPVEL'sPVModuleReliabilityScorecardprovidestheindustrywithanimportantreferencevis-a-vislong-termreliabilityandperformancedata.The2022PVELProductQualificationProgram(PQP)testcomprisedofsixelements,including600cyclesthermalcycling,2,000hoursofdampheat,mechanicalstresssequencing,192hoursofpotential-induceddegradation,LID+LeTIDandPanfile(representingpowergenerationcapability).In2022,LONGi'smodelswasnamedaTopPerformerinallsixtestingcategories.PIDTestPANPerformancePropellingthetransformationLONGiSolar@2022RankedfirstinTÜVRheinlandPowergenerationsimulation:2017,2018,2021,2022Outdoorempirical:2019,2020,2021HIGHACHIEVERinPVModuleIndex2019,2020,2021HighestPowerGenerationPVMagazineTestSinceJune2018TOPPERFORMERinPVModuleReliabilityScorecard2017-2022TheThird-partyEvaluationofProductQuality&PerformanceThenWhichTechnologywillbethefuture‘BestPractice’?LONGiHJTSolarCellEfficiency(June,2022)LONGiP-typePERCSolarCellFrontEfficiency(January,2019)LONGiN-typeTOPConSolarCellEfficiency(June,2021)LONGiP-typeTOPConSolarCellEfficiency(July,2021)LONGiIndium-freeHJTSolarCellEfficiency(December,2022)LONGiP-typeHJTSolarCellEfficency(December,2022)LONGiHJTsiliconsolarcellEfficiency(November,2022)PropellingthetransformationLONGiConfidentialEfficiencyofPROversionHPBCcellsbreakthrough25.3%LightabsorptionMulti-layeranti-reflectionfilmandabsenceoffrontgridincreaselightabsorptionPhotoelectricconversionMultilayerpassivationreducesimpurityrecombinationandimprovesphotoelectricconversionefficiencyElectrictransmissionInnovativeall-backweldingtechnologystabilizesthecurrenttransmissionLightabsorptionPhotoelectricconversionElectrictransmissionEfficiencyofconventionalHPBCcellsexceeds25%KeepProductInnovation，TowardsTerawattEraModuleefficiencyLightabsorptionLowirradiationPerformanceTemperaturecoefficientLongtermpowergenerationLONGiHi-MO6PERCModulePropellingthetransformationLONGiSolar@2022Fourproductseries，alladheringtothe182mmstandardHi-MO6ProductFamilyExplorerPerformanceImprovementScientistHighestModuleEfficiencyGuardianPre-madeOptimizerArtistColoredModuleOptionsoptimizerColoreddesign2278mm1722mmAllseriesincluding72cells，66cells，60cells，54cells，etc.LONGiSolar@2022PropellingthetransformationLONGiSolar@20222022-2025ModulePowerRoadmap13（21.21%）5405505605705805906002022H12022H22023H12023H22024H12024H22025H12025H2ModulePower(W)Moduleefficiency（%）Hi-MO5MSHi-MO6MSNEWTECH1MS组件：72版型（21.48%）（21.52%）（21.60%）（21.63%）（21.67%）（21.71%）（21.56%）（22.34%）（22.45%）（22.53%）（22.61%）（22.68%）（22.22%）（22.41%）（22.53%）（22.61%）（22.68%）（22.72%）（22.76%）72-cellPropellingthetransformationLONGiSolar@202214Dr.SHEN,PEIJUNEuropeSr.ProductMarketingManagerLONGiSolarTechnologyCo.,Ltd.Add.:GermanyEmail:peijunshen@longi.com•https://en.longi-solar.com•LONGiSolar.Allrightsreserved.UtilityscalesolutionsandprogressinmarkettrendswithstringinvertersGoodWeMarjiaMaischEditorpvmagazineMarkHutchinsEditorpvmagazineDavidSánchezSalesDirectorEMEA–Utility&LargeScaleGoodWe7March20232:00pm–3:30pmGMT,London3:00pm–4:30pmCET,Berlin,Madrid,Paris4:00pm–5:30pmEET,AthensIntelligentSolutionofUtilityScaleStationGoodWeSolarCommunityDEEPINSOLARAcademy@goodwe.comCommunity.goodwe.comCompanyIntroduction04GOODWEFAMILY4000+800+150+München,DeutschlandHQEMEASuzhou,ChinaHQNumberofEmployeesR&DStaffOverseesEmployeesAboutGoodWeGoodWeisaleading,strategically-thinkingenterprisewhichfocusesonresearchandmanufacturingofinverter-centricrenewableenergysolutionproducts11%R&Dinvestment(Q1,2022)Vision:Drivingtheworld'ssmartenergyfutureTheBestEmployerofGreaterSuzhoufor5consecutiveyearsUSLEEDGoldLevelGreenBuildingAlsothehighestGreenBuildingStandardinChinaMission:Wearedeterminedtobethemaindrivingforceintheglobalenergytransition,createasustainablefutureforearth,formankind,andforfuturegenerations.Securitylevel:ConfidentialGLOBALPRESENCEBranchesHongKong(China),Australia,Germany,UnitedKingdom,Belgium,Japan,UnitedStates,SouthKoreaSales&ServiceCentersAustralia,UnitedKingdom,Netherlands,Germany,Mexico,Brazil,Poland,Spain,Italy,SouthAfrica,Chile,Argentina,Portugal,Greece,India,Turkey,Japan,Ukraine,UnitedStates,Vietnam,Thailand,Malaysia,Russia,UAE,FranceR&DCentersSuzhouR&Dcenter,ShenzhenR&DcenterProductionFacilitiesSuzhouManufacturingbaseGuangdeManufacturingbaseUSAMexicoBrazilSpainGermanyGreeceChileArgentinaPolandUKPortugalNetherlandsUkraineTurkeyVietnamIndiaItalySouthAfricaAustraliaHKJapanKoreaBelgiumThailandChinaMalaysiaRussiaUAEFranceAltman-Zscoresofselectedpure-playpubliclylistedinvertermanufacturersMOSTBANKABLEINVERTERBRAND2021Source:BloombergTerminal,BloombergNEF-20246810121416182022201320142015201620172018201920202021SMASungrowEnphaseSolarEdgeGinlong/SolisGoodWeAltman-Zscoreof1.8GoodWeEuropeGmbHGOODWE´SHIGHQUALITYRECOGNITIONALLQUALITYMATTERSAWARD2015-2020TheSoleInverterBrandtoHaveWontheAwardfor6ConsecutiveYears2019PVMagazineAward2017-2021EuPDTopBrandfor5ConsecutiveYears(AU&NL&PL&ES&PK&RSA&BR&VN)2019World’sNo.1HybridStorageInverterSupplier2018ReddotDesign2021EHSeries5kWNo.2ETSeries10kWNo.52021TheMostFinanciallyStableInverterCompanyGoodWeEuropeGmbHSolutionIntroductionPPCPVModule1500VinverterGridStationlevelmonitoringsystemDataloggerPLC/HPLCDClineAClineCom.lineTrackingsystem…MVStationStep-upsubstationWeatherstationOverallSolutionLCOEinUtility-ScalePVSystemsInvertersaccounts~5%ofthesystemcostbuthavethelargestimpactontheoverallBOQ,LaborandYield•LCOE:LevelizedCostofElectricity•CAPEX:CapitalExpenditure•OPEX:OperatingExpenses•EOH:EquivalentOperatingHours(Yield)atNetPresentValue𝑳𝑪𝑶𝑬=𝑪𝑨𝑷𝑬𝑿+𝑶𝑷𝑬𝑿∗𝑬𝑶𝑯∗$𝑴𝑾𝒉DCInputCurrent15A/20AEuropeanEfficiencyTypeIISPDIntegrated98.5%PIDrecovery,AntiPIDIP66OverallProtectionC5foroptionIP66&C5PIDSolutionStringCurrentmonitoringIVScan&DiagnosisPLCcommunicationSupport400mm²DiameterACCableIVHTSeries250kW15/12MPPTs15/20AperstringPLCGW250K-HT~14AInputcurrentMax.15AGW250KN-HT~18.5AInputcurrent~20AInputcurrentwithbifacialgainMax.20ACompatiblewith182&210mmPVmodule•Fuse-lessdesign•Intelligentbreakandarcextinction•DirectlycontrolledbyDSPProductFeature-IntelligentDCSwitchGW250KN-HTMulti-MPPTDesignMinimizingBifacialMismatchUp12MPPT´sallowHTPVInverterstoreducesignificatllymismatchlossesoftheDCPVArray.Especiallycriticalwhenusingbifacialmodules.DustHotSpotDifferenttiltandazimuthBreakageShadowDustModuleMismatchAdvancedThermalDesignSuperiorthermaldesignallowing:•Higherpowergeneration•LongerlifespanOptimizedheatdissipationpathSetof6replaceablefans(NMB,IP68)Fullpowergenerationupto40°CFastCommunication-HPLC-Reactivepower30ms-Activepower80msReliable&Safe-Opticalfiberringredundancy-VerticalencryptionCompatibility-Moreprotocols-MoreI/OPorts8DI,4DO,8AI,PT100/PT1000TrackingsystemWeatherstationModbusRTU250kWinverterGridOperatorSCADAIEC60870-5-104ModbusTCPIEEE2030.5PPCSCU3000CleaningRobot···FiberRingNetworkOverallSolution-CommunicationsPE800VPVAnti-PIDPIDrecoveryUpv-to-PE>0NightL1L2L3L1L2L3800VDaylightPIDSolutionInternalPIDInternalPIDHighefficiency•Diagnosisbyone-click•Diagnostictimelessthan10minfor10MWstation•Diagnostictimelessthan30minfor100MWstationIntelligent•Failuredetection•Station/sub-array/inverterleveldiagnosis•VisualizedataReportWeatherStationIVScan&DiagnosisOne-click12SmallcracksShadow3Open-circuitSCU3000IVscan&diagnosis•Digitaloperationandmaintenance•Viewvisualization•EOHanalysis(EquivalentOperatingHour)•IVscananddiagnosis•Customizedreport•One-clickupgradeSolarOSstationlevelmonitoringsystemLVroomTransformerMVroomOverallDesignofTheMVStationUpto40.5kVUpto7000kVADoublesplitordoublesecondarywindingCVCringmainunitStandard20ftcontainerdesignQuickinstallationandconvenienttransportationTheLVandMVroomsareIP54andthetransformerisdesignedforoutdoorusePeakEfficiencyIndex(PEI)>99.58%LargeCapacityCompactStructureConvenientShipmentComplywithIEC60076,IEC62271-200IEC60076EN50708GreatperformancesensurestabilityandsafetyCanwithstandWindload1720PaWorkingtemperature-30-60℃DCInputCurrent15A/20AEuropeanEfficiencyTypeIISPDIntegrated98.8%TwofunctionscancoexistHPLCIP66OverallProtectionC5foroptionIP66&C5PIDrecovery&AntiPIDFastercommunicationIVScan&DiagnosisReactivepowercompensationSupport400mm²DiameterACCableIVSVGUTSeries350kW15/12MPPTs15/20AperstringGoodWeSolarCommunityDEEPINSOLARAcademy@goodwe.comCommunity.goodwe.comTHANKYOUCopyright©GoodWeTechnologiesCo.,Ltd.2023.Allrightsreserved.@GoodWeSolarAcademyGoodWeUtility-scalePVandstringinvertermarkettrendsBayWaAlbertoCampayoHeadofOperationsProsoliaEnergyFelixJetterTeamLeaderPowerPlantEngineeringNitishSinhaProjectEngineerandInverterspecialistEcorusMarkHutchinsEditorpvmagazineMarjiaMaischEditorpvmagazinePanelDiscussionGoodWeAlvaroZanónTechnicalDirectorEMEA–Utility&LargeScale7March20232:00pm–3:30pmGMT,London3:00pm–4:30pmCET,Berlin,Madrid,Paris4:00pm–5:30pmEET,AthensGoodWeUtility-scalePVandstringinvertermarkettrendsMarkHutchinsEditorpvmagazineMarjiaMaischEditorpvmagazineQ&A7March20232:00pm–3:30pmGMT,London3:00pm–4:30pmCET,Berlin,Madrid,Paris4:00pm–5:30pmEET,AthensThelatestnewsprint&onlineNewthermalbatteryoffersfast,efficientperformanceatlowcostbyBeatrizSantosViessmannunveilsground-sourceheatpumpforspace,waterheatingbyMarijaMaischManymoretocome!Comingupnext…Thursday,16March2023Tuesday,14March2023Quantifyingearly-stageprojectdevelopmentcosts&constraintsHowenergystoragebuyerscanmitigateupstreamsupplychainrisk1:00pm–2:00pmGMT,London2:00pm–3:00pmCET,Berlin8:00am–9:00amPDT,LosAngeles4:00pm-5:00pmCET,BerlinInthenextweeks,wewillcontinuouslyaddfurtherwebinarswithinnovativepartnersandthelatesttopics.CheckoutourpvmagazineWebinarprogramat:Registration,downloads&recordingsarealsobefoundthere.www.pv-magazine.com/webinarsThankyouforjoiningtoday!GoodWeMarjiaMaischEditorpvmagazineMarkHutchinsEditorpvmagazine