SMA Solar Technology AG strengthens its global presence with a new subsidiary in India

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.

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