Major PV inverter manufacturer Sungrow has reported a significant recovery in revenue and profitability in the second quarter of 2020, after financial figures suffered in the first quarter, due to the impact of COVID-19 on both its PV project and EPC business and demand for PV inverters in China.
Major PV inverter manufacturer will supply DAT Technology Co with 50kW-110kW inverter solutions for commercial & industrial (C&I) installations across Vietnam.
There were a number of key factors at play in the first quarter of 2020 that either positively or negatively impacted financial results for five public listed PV inverter manufacturers in the quarter.
Major PV inverter manufacturer Sungrow Power Supply Co exported a total of 9GW of PV inverters to overseas markets in 2019, an 87.5% increase year-on-year, due to the significant decline in solar installations caused by policy changes in the Chinese domestic market stretching back to May 2018.
The PV inverter rooftop solar market in India was dominated by three China-based manufacturers last year, led by Growatt, according to JMK Research & Analytics.
A wave of PV manufacturers listed on China stock markets have reported full-year net profit guidance for 2019 that indicates significant profit gains over the previous year.
Sungrow Power Supply has introduced the SG250HX, the world’s most powerful 1500Vdc string inverter, which is optimized for hilly, utility-scale installations and designed for bifacial modules and tracker systems.
Total inverter replacement requirements could grow to account for 3.4% of the global inverter market heading into 2020, according to market research firm.
In recently released first half 2019 financial guidance, three China-based PV inverter manufacturers, Sungrow, Ginlong and Kehua have mainly guided weaker profits than reported for the prior-year period.
Major PV inverter manufacturer and EPC provider, Sungrow Power Suplly Co has supplied and grid connected a total of 1.4GW of inverters for PV power plants in the first-half of 2019.
According to the latest ‘Solar EPC and O&M Provider Tracker’ report from IHS Markit, the EPC sector has yet to experience any effective market leaders or consolidation.
Major PV inverter manufacturer and EPC firm, Sungrow Power Supply Co has increased revenue in the first quarter of 2019 by 30%, compared with the prior year period as its power plant system integration business expands.
Major PV inverter manufacturer and EPC firm, Sungrow Power Supply Co has warned that net profit in the first quarter of 2019 would be lower than expected, due to a significant reduction in new PV grid connections in China.
