Germany headquartered solar PV inverter supplier SMA Solar Technology has announced it will construct a new GW factory in Germany to expand its production capacity from 21 GW now to almost 40 GW by 2024, to primarily cater to large scale solar PV power plants.
The new facility will come up at its headquartered in Niestetal near Kassel in Germany with construction planned to begin in late 2022 on 47,000 m2 floor space.
According to the management the new facility will enable it to benefit from the growing demand for renewables in the near and distant future. At the same time, it will help it strengthen local German operations as Europe expands renewables with a call for local manufacturing.
"The global energy transition will succeed only with innovative and sustainable products, which is why it is enormously important to strengthen Germany as an industrial location with investments and innovations and use this as a base to serve the international growth markets," said SMA CEO Jürgen Reinert.
The manufacturer is open to further expansion of the facility to align itself with future market growth it said.
The move should help the company whose business in the recent past has had to suffer owing to tight supply of electronic chips. In Q1/2022, its inverter sales declined 17% annually as net income dripped 62.5% (see SMA Solar's Q1/2022 Financial Results).
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