SMA agrees inverters supply for 2 GW of Powin storage
Image by SMA Solar Technology AG (www.sma.de)
German photovoltaic (PV) and battery inverters maker SMA Solar Technology AG (ETR:S92) on Tuesday announced a two-year framework agreement with US energy storage company Powin LLC to supply its products for 2 GW of storage capacity.
SMA signed the deal, which also includes service work, through its US subsidiary, SMA America.
The agreement calls for Powin to install at least 2 GW of storage capacity with SMA technology over the next few years. This will help the US company improve its supply chain management and secure more predictable pricing for SMA components.
“The energy storage market is entering a new stage of transformative growth and SMA will help us meet the growing demand and provide our customers with more flexibility in choosing their preferred power conversion technology,” remarked Powin president Anthony Carroll.
Jay Arghestani, vice president of large scale solutions at SMA America, said the inverter manufacturer is looking forward to “a synergistic partnership in this growth sector.”