- Press Releases
June 30 (Renewables Now) - Italian power electronics company Enertronica Santerno SpA (BIT:ENT) will invest up to ZAR 17 million (USD 1.2m/EUR 1m) in South Africa over three years to strengthen its capability to make inverters for solar applications, including storage.
The company wants to initially achieve an annual inverter production of over 500 MW and gradually ramp up to higher capacities. It said earlier in June that it will finance the whole investment from its internal resources.
The news was welcomed by the South African Photovoltaic Industry Association (SAPVIA). “Post Covid, we will require foreign and local investment to drive the economic recovery and transform our energy infrastructure to meet current and future requirements. This investment will also contribute to South Africa realising the full, transformational potential of its solar PV market,” commented Niveshen Govender, COO of the industry body.
Currently, Enertronica Santerno has after-sales service agreements for about 400 MW, with terms of five to ten years, with South Africa’s key players in the sector.
(ZAR 10 = USD 0.701/EUR 0.589)