Solon SE (SOO1.DE) has sold its Swiss subsidiary Solon Inverters AG to Delta Energy Systems (Germany) GmbH, a part of the Taiwan-based Delta Electronics Group (2308.TW).
Financial terms were not disclosed. The change of control takes immediate effect.
Solon Inverters AG–which was founded in 1992 under the name asp AG and is based in Uznach, Switzerland–has been a member of the Solon Group since 2000 and develops, produces and sells sinewave inverters for stand-alone installations. The company and its 14 employees generated revenue of EUR 2.3 million in 2009.
The strategy pursued by the Solon Group, which specializes in developing and manufacturing solar modules and erecting large-scale power plants, has recently been focusing much less on business in inverters for stand-alone installations.
The sale of Solon Inverters AG continues a restructuring program launched last year, which is intended to help optimize the Solon Group’s cost structures.
Following a supply deficit in the inverter market early this year, inverter capacity will be ramped past 30 gigawatts (GW) by the end of the year and production may exceed actual demand by more than 2 GW in 4Q10 leading to large inventory build, according to a recent market report.
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