May 29 (Bloomberg) -- SMA Solar Technology AG, Germany’s biggest solar-energy company by market value, plans to make products in South Africa as it targets growth there.
SMA, the biggest maker of inverters that convert power from solar panels for use on the grid, seeks to set up a factory in South Africa to meet local-content requirements and tap into the country’s growing energy market, the Niestetal-based company said today in a statement.
“South Africa has strategic importance for SMA,” Chief Executive Officer Pierre-Pascal Urbon said. “The country has good economic growth with a corresponding increase in energy demand.”
While SMA said preparations for the South African plant are under way, it didn’t say how much capacity it would have or when it would be operational. Calls to the company’s press department weren’t answered, and an investor relations spokesman declined to comment.
To contact the reporter on this story: Stefan Nicola in Berlin at firstname.lastname@example.org
To contact the editor responsible for this story: Reed Landberg at email@example.com