Solectria Renewables LLC says its performance last year continues a seven-year run of profitability. The Lawrence, Mass.-based inverter manufacturer reports it shipped 43% more MW of products in 2013 than in the previous year and experienced a 40% growth in revenues over the period.
As a privately held company, Solectria does not publish its financials; however, it says these are audited by an accounting firm.
‘Solectria Renewables is one of the most consistently profitable and financially healthy PV inverter manufacturers operating today,’ says Phil Vyhanek, president of Solectria Renewables. ‘In 2013, we expanded our team and manufacturing operations, launched new products, and contributed to many project successes, all while maintaining the financial health required for true bankability.’