SMA Solar Technology AG has announced plans to acquire a 72.5% majority stake in Chinese inverter manufacturer Jiangsu Zeversolar New Energy Co. Ltd. SMA says it plans to use the joint venture primarily to aid comprehensive operation in the Chinese market.
‘With this joint venture, SMA is gaining access to products specifically tailored to the unique needs of the Chinese market,’ says Pierre-Pascal Urbon, SMA speaker of the managing board. ‘As a leading manufacturer in China, Zeversolar is also in contact with the prevailing customers and decision-makers in the energy industry. We will be serving the Chinese market via the modern production site in Yangzhong and are also in a position to quickly increase capacity through already established processes.’
The economic start of the joint venture is planned for Jan. 1, 2013. The transaction is still subject to approval by Chinese government authorities and the responsible anti-trust offices.