Ginlong to increase string inverter production capability

• PV string inverter supplier Ginlong Solis Technologies is to increase its production capability to 20GW per year through a US$ 100 million non-public offering to fulfill expanding need for its mainstream items as well as arising solar-plus-storage item offering.

" The need for our ultra-reliable Solis inverters has actually driven this press to increase our capability," stated Yiming Wang, head of state of Ginlong Solis Technologies. "We are seeing an increase popular for string inverters over various other innovations because of its cost-competitiveness and also dependability. This increasing of our manufacturing stands for an interesting landmark for Solis."

Given that going public, Ginlong has actually quickly increased its item variety and also sales as well as advertising and marketing in an expanding variety of areas and also nations with running revenue boosting 37% in 2019 to around US$ 160 million, contrasted to US$ 177 million in 2018.

Ginlong stated that an increased manufacturing facility would certainly include 1,000,000 square feet to its existing center in the Binhai Industrial park, Xiangshan County Ningbo City, Zhejiang district. In economic files, Ginlong kept in mind the development would certainly make it possible for a yearly result of 400,000 collections of string-type grid-connected and also power storage space inverters.

The growth will certainly likewise consist of a brand-new company school as well as R&D as well as screening center.

"Our brand-new company university will certainly include greater than 500 brand-new work to the Solis group, generating fresh ability and also originalities to increase technology and also drive development," included Wang.

Ginlong increased RMB 533 million (US$ 75 million) throughout its IPO on the Shenzhen Stock Exchange in March of 2019, making it the just openly traded business in China concentrated solely on PV string inverters.

Ginlong has actually been consisted of in to PV Tech's normal evaluation of competing PV inverter makers that are provided on stock market.