SMA Solar finally enters China’s PV market

  • SMA Solar said it had taken a 72.5% majority share ownership in Zeversolar in an all cash transaction.
    SMA Solar said it had taken a 72.5% majority share ownership in Zeversolar in an all cash transaction.

Financials

  • S92
    ETR
    26.67
    +0.07 (0.28%)
    10:39AM GMT+2

SMA Solar has entered the fast growing Chinese market by acquiring a majority stake in China-based start-up Jiangsu Zeversolar New Energy.

The largest PV inverter manufacturer had previously avoided entering the Chinese market due to long-held concerns over IP protection.

“Over the next few years, China will become the largest photovoltaic market worldwide," said Pierre-Pascal Urbon, SMA Solar Board Member.

“Up to now, we did not have access to this market due to local particularities. For this reason, our majority shareholding in Zeversolar is strategically highly relevant for us. 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.”

SMA Solar said it had taken a 72.5% majority share ownership in Zeversolar in an all cash transaction valued at approximately €40 million. The transaction is still subject to approval by Chinese government authorities.

PV-Tech Storage Promo

Newsletter

Preview Latest
Subscribe
We won't share your details - promise!

Publications

  • Photovoltaics International 24th Edition

    Signs earlier in the year of the global industry entering a growth phase have now been confirmed beyond any doubt. Almost all the big-name suppliers have now announced some form of manufacturing capacity expansion, a trend that analysts agree will only gather pace as long as the levels of demand predicted over the next few years turn out to be correct.

  • Manufacturing The Solar Future: The 2014 Production Annual

    Although the past few years have proved extremely testing for PV equipment manufacturers, falling module prices have driven solar end-market demand to previously unseen levels. That demand is now starting to be felt by manufacturers, to the extent that leading companies are starting to talk about serious capacity expansions later this year and into 2015. This means that the next 12 months will be a critical period if companies throughout the supply chain are to take full advantage of the PV industry’s next growth phase.

Partners

Acknowledgements

Solar Media