KACO takes swipe at European PV policy as it cuts 80 jobs

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Neckarsulm will continue to host its management even though it views overseas markets as the path to “long-term global success”. Source: KACO New Energy.

Inverter manufacturer KACO New Energy will cut 80 jobs from its German operations as it looks to refocus on markets beyond Europe.

The company said in a statement released on Friday that it would look to move some staff to other regions and took a swipe at European policymakers at the same time.

“The future of the PV markets lies in America, Asia, Africa and the Middle East. These regions recognise the potential of photovoltaics as a key technology for electricity generation; policy-makers there appreciate the significant role that solar energy plays in securing the competitive ability of national economies.”

KACO also plans to target utility and commercial scale markets as part of an extensive restructuring of its Neckarsulm production site.

“We are pursuing growth through refining our focus. The aims are clear: to achieve profitable growth and to considerably simplify structures,” said Ralf Hofmann, managing director, KACO New Energy. “For the company headquarters in Neckarsulm, this will mean cutting 80 positions through a socially balanced procedure in consultation with employee representatives. Part of the restructuring will see certain remits being transferred to subsidiaries in the USA and South Korea,” he added.

The company statement also confirmed that Neckarsulm will continue to host its management even though it views overseas markets as the path to “long-term global success”.

Asian inverter manufacturers have eaten away at the market share of European competitors in recent years with former market leader SMA forced into a major period of restructuring in order to return to profitability.

Read Next

December 1, 2021
Tech major Amazon has added a further 2GW to its committed utility-scale solar PV capacity, adding projects in the US and Europe to its renewables portfolio.
November 23, 2021
Renewables developers and O&M provider RES has appointed two new chief executives to lead on its growth plans.
October 19, 2021
Lightsource bp has announced its entry into Poland’s solar market through a co-development deal which will see the developer proceed with a 757MWp pipeline in the country.
October 19, 2021
Europe's energy crisis can be a boon for renewables deployment on the continent by bolstering business cases, but familiar foes such as grid constraints will still need to be hurdled in the coming years.
October 15, 2021
European renewables investment management firm Greencoat Capital has confirmed its entry to the US renewables market and is plotting to invest up to US$5 billion over the next five years.
October 5, 2021
PV Tech has partnered with Intersolar Europe to publish a special edition of PV Tech Power, available entirely free of charge, ahead of this week’s exhibition and conference.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
December 21, 2021
Free Webinar
Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal

PV TECH POWER VOLUME 29 OUT NOW—Get 35% off your first year

Solar’s 2030 blueprint