Monday, October 2, 2023

Power Electronics announces an investment of more than $300 million in the United States

Power Electronics, one of the largest manufacturers of solar inverters for photovoltaic systems and energy storage, has announced an investment of more than 300 million dollars in the United States, with which the Valencia-based multinational will increase production capacity in that country by more than 20 GW in 2025, as reported in a statement.

The company unveiled its local production plan at RE+, the premier renewable energy event in North America. From September 11th to 14th, visitors to Power Electronics were able to find out more detailed information about the project, “which is expected to significantly increase its production capacity with its electromobility, solar energy and energy storage solutions by more than 20 GW by 2025.”

The factory will cover a sprawling area of ​​174,015 square meters and will be equipped with the latest manufacturing and assembly technologies to serve as an “optimal center” for the manufacturing and distribution of its products across the country.

The company will create more than 600 jobs in the United States. According to the company, this new project in the US will “strengthen its position as a market leader, supporting the 60 GW currently in operation and playing a crucial role in the country’s renewable energy industry, which aims to generate 80% of its energy .” from renewable sources by 2030”.

The CEO of Power Electronics, David Salvo has emphasized that they have a “solid commitment to our customers, which includes supplying future projects with American technology and local manufacturing.” We believe that energy is a matter of national security and it is important to control the supply chain and the origin of the technology used to produce it.

Nation World News Desk
Nation World News Desk
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