SMA Solar to double manufacturing capacity to 40 GW by 2024

• Photovoltaic (PV) inverters maker SMA Solar Technology AG (ETR: S92) is planning to construct a new gigawatt factory and increase the production capacity at its German headquarters to virtually 40 GW by 2024 amid projections for growth in the green power sector.

The German manufacturer will build the new production facilities on a location of 47,000 sq m in Niestetal near the city of Kassel, main Germany, with building scheduled to begin in late 2022. The new capacity will certainly be made use of to produce systems for large-scale solar (PV) power plants, SMA Solar said on Thursday.

The new manufacturing facility will certainly have the potential to be scaled up in future as need grows.

"Building this new factory will help us protect supply chains and get higher self-reliance from ever-changing profession conditions. Greater customer proximity will certainly be an important driver specifically in the large-scale PV power plant sector," stated president Juergen Reinert.

The growth will strengthen SMA Solar's procedures in the residence market, producing more than 200 new jobs. It will certainly also make the supplier much more flexible to elevate manufacturing capacity anytime at reduced expenses as well as dangers.