Inverter giant SMA buys into China with 72% Zeversolar stake

SMA Solar – the world’s biggest maker of PV inverters – has cemented its position in the increasingly vital Chinese market by taking a majority stake in a local business.

Germany’s SMA has bought 72.5% of Jiangsu Zeversolar New Energy, which it describes a leading inverter manufacturer in China.

SMA says: “Over the next few years, China will become the largest photovoltaic market worldwide.

“Up to now, we did not have access to this market due to local particularities. For this reason, our majority shareholding in Zeversolar is strategically highly relevant for us.

“We are taking advantage of this historic chance to successfully anchor SMA in a young growth market and to further establish our position as global market leader,” the German group says.

The deal values Zeversolar at about €40m ($52.8m), and is still subject to the approval of the Chinese authorities.