Satcon PV inverters giant abandon small Inverter

Famous American manufacturer of photovoltaic inverters SatconTechnology announced that in view of the company to focus on large-scale, utility-scale solar photovoltaic power generation projects, will close one of Canada 's solar photovoltaic power plant for the production of small inverter manufacturer . Satcon in a statement said the move will result in 140 job losses , accounting for about 35% of the total number .

    Satcon CEO SteveRhoades said the company is out of Solstice small photovoltaic inverterproduction line , because the production of this type of photovoltaic inverter is too expensive , no profit can be transferred . "This technology is really not the time , because the whole industry chain in the price , but other solutions we still occupy a large market share ."

    Rhoades expects PV inverter with charger prices will gradually stabilize , the market demand will also rise over last year , especially in the United States and Asia. With Solstice production lines eliminated, margins will improve , but did not give specific targets. Next the company's focus is the United States , Canada, China and India markets large-scale solar power projects.

    The data compiled by Bloomberg show , Satcon's third- quarter gross profit margin was 11.8% , down 26.9% over the previous year by 15.1% .

Affected by the shut down production lines , Satcon fourth quarter write-down $ 2.8 million to $ 3 million . Once the reorganization is complete projected annual savings of $ 15 million for the company to $ 17 million .