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Leading Inverter Company SMA Buys Majority Stake In Chinese Firm Zeversolar
According to the recent announcement, leading solar inverter manufacturer SMA is all set to acquire a majority stake in Chinese inverter company Jiangsu Zeversolar New Energy Co., Ltd.
SMA will get 72.5% stake in the Jiangsu Zeversolar New Energy Co., Ltd. which will provide opportunity to SMA to get access into the fast-growing solar energy market of China and to consolidate its leadership in the photovoltaic market. The agreement is yet to receive Chinese regulatory authority.
Zeversolar’s enterprise value based on SMA’s stake of 72.5% is ¥319 million (approximately €40 million or $51 million) from which net liabilities are deducted in order to determine the final purchase price.
“Over the next few years, China will become the largest photovoltaic market worldwide,” said SMA’s Pierre-Pascal Urbon. “We are taking advantage of this historic chance to successfully anchor SMA in a young growth market and to further establish our position as global market leader.”
This acquisition will enable SMA to open up procurement channels in China more quickly and efficiently than planned. The company plans to start operations from 1 January 2013 through its already established infrastructure and subsequently ramp up capacity.
Zeversolar provides a wide range of solar inverter products for household roof systems, commercial roof systems, large-scale ground PV power plant systems, etc. It has a production capacity of 2 GW based in Yangzhong in the Jiangsu province, and the company has research and development facilities in Suzhou and Shanghai. The company employs more than 450 employees globally, achieved sales of approx. ¥250 million in 2011, and sold 215 MW of inverter capacity in 2011. The company also has subsidiaries in Europe and Australia.
SMA is a global leader in the development, production, and sales of PV inverters, with a strong presence in 19 countries on four continents. It employs more than 5500 people worldwide.
The views presented in the above article are author’s personal views only
Leading Inverter Company SMA Buys Majority Stake In Chinese Firm Zeversolar was originally published on: CleanTechnica
2012-12-26 03:45:26
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