Chinese solar inverter supplier Sineng’s President Yuhe Duan spoke exclusively with TaiyangNews Managing Director Michael Schmela during the recently concluded SNEC Conference & Exhibition 2023 in Shanghai, as part of TaiyangNews & SNEC Solar Leadership Conversations.
Recalling the origins of the company, Duan shared that Sineng was established in 2012 to produce electronic components. In 2014, it acquired the PV business of a Fortune 500 company and later became a serious player in the solar inverter business.
At present, Sineng has 3 manufacturing bases, 1 each in Wuxi and Wuzhong in China and another one in India’s Bangalore. Altogether, these factories represent a total 40 GW annual production capacity for Sineng. The company also has 4 R&D centers in China.
In the last 3 years, Sineng has been able to ship its products in Europe including to Greece, Spain and Switzerland. Calling Europe a very important market for the company, Duan said Sineng has already established subsidiaries in Greece, Spain and Germany and plans to expand further in the region including building more warehouses.
Duan revealed the Chinese company also aims to provide products for distributed generation segment with a focus on energy storage in Europe, along with continuing to cater to utility scale segment.
China accounts for 70% of Sineng’s total revenues, with remaining 30% coming from overseas. But in a globalized market, the company plans to diversify further to increase the overseas share to 50% or even 70% in the future.
Duan said while the company has already expanded into India with a manufacturing fab and significant market share, it eyes Europe, USA, Brazil, Australia and even Africa for further development of its business.
The complete interview with Sineng’s President Yuhe Duan and other SNEC Exclusive Executive Interviews conducted by TaiyangNews can be viewed on TaiyangNews’ YouTube channel.