PV inverter manufacturer KACO new energy is changing its business focus to include only string inverters and energy storage products, after its acquisition of Energy Depot, selling its central inverter business subsidiary in South Korea to OCI Power. Financial details were not disclosed.
The deal means that OCI Power would be expanding its existing PV solutions business with manufacturing technologies for central inverters and other power electronics, while both companies are to strengthen ties on global projects and the distribution of string inverters in South Korea and Japan.
Ralf Hofmann, CEO of KACO new energy said, “We see both major cost advantages and benefits for our customer base in the implementation of string inverters, even in multi-megawatt sized solar parks. We can offer appropriate system solutions for this purpose, which at the same time integrate the advantages of central system designs, but with the additional benefit of speed of installations, massively improved logistics and the potential slashing of operations and maintenance costs.”