Leading US-based PV inverter manufacturer Solectria Renewables has been acquired by Japan's Yaskawa America, a subsidiary of Yaskawa Electric Corporation.
Solectria Renewables will now function as a wholly owned subsidiary of Yaskawa Electric and give Yaskawa a strong foothold in the American inverter market.
Mike Knapek, president and COO of Yaskawa America, said: “This is an effort to broaden Yaskawa’s exposure in the renewable energy market and expand the use of our technology expertise. Solectria has built a strong and successful organization in the Solar Inverter market over the past 10 years. The philosophies and strategies of both organisations are highly aligned on enabling sales growth and market expansion through superior customer experiences. We are very excited to bring Solectria into the Yaskawa family to provide world leading Inverter solutions.”
Founded in 2005, Solectria has become one of the leading PV inverter manufacturers in North America, employing over 170 people.
Yaskawa Electric is a US$3.6 billion leader in factory automation solutions, while also serving as a leader in the PV inverter market in Japan.
James Worden, CEO of Solectria Renewables, said: “While this is a significant step for Solectria, I am even more thrilled about what this means for our customers. They will have the same management team and personal interaction they are accustomed to, with the advantage of a powerful diversified global partner. Our entire team should feel incredibly proud about we have built over the past 10 years, but the best is yet to come.”