SMA Solar eyes Asian markets as Germany backs off support
SMA Solar, the world's largest maker of solar inverters, plans to move into Japan and Thailand as it seeks new markets outside of Germany, where state support for the solar industry is set to be cut.
"We have to move into new markets," Chief Executive Pierre-Pascal Urbon told magazine WirtschaftsWoche.
"We are recruiting employees for our Tokyo site and want to commence operations in 2012," he said, adding SMA also wanted to expand into Thailand.
SMA made 45 percent of its sales outside of Germany in 2010 and Urbon said that should reach 50 percent in 2011.
Solar inverters convert electricity generated from solar modules into a form which can be fed into an electricity grid.
Urbon also confirmed he expected demand to pick up in the second half.