SMA Solar Technology AG / Key word(s): Miscellaneous
26.10.2010 15:16
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SMA Solar Technology AG continues to expand its global presence by founding
a new sales and service subsidiary in India. SMA will open the sales and
service subsidiary in Mumbai until the end of 2010. In particular, the
company's broad product portfolio will be beneficial for the market
development. SMA is the only inverter manufacturer offering modern system
technology for grid-tied solar power plants as well as a stable solution
for backup and off-grid systems in India.
When it comes to the country's electricity supply, India has still some
catching up to do, and large swaths of the population still don't have
access to a power distribution grid. At the same time, the demand for
energy in this up-and-coming emerging market will continue to grow
significantly in the near future. In light of these aspects, there is
considerable potential in India for the use of decentralized electricity
supply from renewable energy sources. In this context, the generation of
electricity from photovoltaics can play an important role in the future.
India is one of Earth's regions with the most hours of sunshine per year.
In addition, the government in New Delhi launched a subsidy program with
the goal of considerably increasing solar power's share of the total energy
production in the coming years. This means India offers ideal conditions
for the sustained development of a fast-growing photovoltaic market.
'The sharply increasing energy demand, outstanding sun conditions, and
systematic government support in the context of the National Solar Mission
make India an attractive future market for photovoltaics. By establishing a
local presence there, SMA actively acknowledges the increasing importance
of this rapidly growing market,' says Günther Cramer, CEO of SMA Solar
Technology AG. 'In the past few years, we have continued to drive the
internationalization of our company, and the new subsidiary in India is a
further important step in our successful internationalization strategy.'
Numerous projects have been launched in India in recent years using SMA
inverters. In addition to grid-tied PV plants of every size, the
stand-alone solutions developed by SMA play an important role in providing
electricity to remote areas without access to the power distribution grid.
About SMA
The SMA Group generated sales of EUR 934 million Euro in 2009 and is the
worldwide market leader for photovoltaic inverters, a key component of all
solar power plants. It is headquartered in Niestetal, near Kassel, Germany,
and is represented on four continents by 14 foreign subsidiaries. The Group
employs a staff of over 5,500 (incl. temporary workers). SMA's product
portfolio includes the most comprehensive range of inverters on the market,
offering a compatible inverter for every type of photovoltaic module and
for all plant sizes. The product range covers both inverters for
photovoltaic plants connected to the grid as well as inverters for off-grid
systems. Since 2008, the Group's parent company SMA Solar Technology AG has
been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and
also in the TecDAX index. In recent years, SMA has received numerous awards
for its excellence as an employer.
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Press contact:
Volker Wasgindt
Head of Press Relations and Public Affairs
Phone +49 561 9522-11 21
Fax +49 561 9522-11 03
Volker.Wasgindt@SMA.de
Investor Relations:
Anna Raudszus (Institutional Investors/Analysts)
Director Investor Relations
Phone +49 561 9522-22 22
Fax +49 561 9522-22 23
ir@SMA.de
Julia Damm (Private Investors)
Phone +49 561 9522-11 64
Disclaimer:
This press release serves only as information and does not constitute an
offer or invitation to subscribe for, acquire, hold or sell any securities
of SMA Solar Technology AG (the 'Company') or any present or future
subsidiary of the Company (together with the Company, the 'SMA Group') nor
should it form the basis of, or be relied upon in connection with, any
contract to purchase or subscribe for any securities in the Company or any
member of the SMA Group or commitment whatsoever. Securities may not be
offered or sold in the United States of America absent registration or an
exemption from registration under the U.S. Securities Act of 1933, as
amended.
This press release can contain future-oriented statements. Future-oriented
statements are statements which do not describe facts of the past. They
also include statements about our assumptions and expectations. These
statements are based on plans, estimations and forecasts which the
executive board of SMA Solar Technology AG (SMA or company) has available
at this time. Future-oriented statements are therefore only valid on the
day on which they are made. Future-oriented statements by nature contain
risks and elements of uncertainty. Various known and unknown risks,
uncertainties and other factors can lead to considerable differences
between the actual results, the financial position, the development or the
performance of the corporation and the estimates given here. These factors
include those which SMA has discussed in published reports. These reports
are available on the SMA website at www.SMA.de. The company accepts no
obligation whatsoever to update these future-oriented statements or to
adjust them to future events or developments.
26.10.2010 15:16 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Deutschland
Phone: +49 (0)561 / 9522 - 0
Fax: +49 (0)561 / 9522 - 100
E-mail: info@sma.de
Internet: http://www.sma.de
ISIN: DE000A0DJ6J9
WKN: A0DJ6J
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in München, Berlin, Düsseldorf, Stuttgart
End of Announcement DGAP News-Service
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DGAP-News: SMA Solar Technology AG strengthens its global presence with a new subsidiary in India
| Source: EQS Group AG