Single-axis tracker manufacturer Soltec Doubles Turnover in 2017
By: +David Herron; Date: October 25, 2017
Tags: Solar Power
"Turnover" means that Soltec has essentially doubled their sales, with over 200 percent revenue growth in 2017. The company supplies solar tracker systems across three continents. It's likely the company will rise to 3rd place in global PV Tracker supply market in 2017. Whatever good that means for Soltec as a company, it is an early indicator of continued strong growth in solar for renewable electricity production.
The European leader in solar trackers will supply more than 1.1 GW in the year Soltec, a leading manufacturer and supplier of single-axis solar trackers and related services, will supply its tracking equipment to large-scale PV power plants across three continents throughout the year. With over 200 percent revenue growth in 2017, the company estimates annual turnover of USD 215 million.
The strategic move to the United States in 2015 has consolidated with additional market share in 2017, amidst market uncertainties and strong competition. Four power plants across the U. S. feature Soltec’s tracking equipment, totaling 229 MW. Soltec enjoys strong momentum as a large-scale supplier going into the ITC build-out through 2020.
In parallel, Soltec’s leadership in Brazil skyrocketed in 2017 with supply contracts totaling 517 MW. Local product content played an important role in this achievement, thanks to Soltec investments in local people and manufacturing facilities that benefit both the customer project and the local economy.
“Providing high-grade customer experience and results with innovative factory approaches and cost-effective standard product application has proven a success, and has pushed Soltec to the leading position,” said Carlos Mena, Country Manager Brazil. With these outstanding figures, Soltec is ranked by analysts in third-place of the global PV tracker estimated supply market in 2017, rising from sixth-place in 2016, and ranking as the number one European tracker supplier in 2017. These achievements exhibit the result of Soltec investments in 2016 to increase manufacturing capacity to 2.5 GW per year and to prepare for large-scale project supply challenges.
According to CEO of Soltec Raúl Morales, “repeating customers rely on us as project partners due to our ability to meet schedule, cost, and quality criteria. Our record-breaking growth is testament to the dedication of Soltec’s global team focused on large-scale supply capacity, cost-effective innovation, and technical leadership.”
Soltec’s global operations and workforce of over 500 people blend experience with innovation. The company has manufacturing facilities in Brazil, China, and Spain, as well as offices in Denmark, Chile, India, Israel, Italy, Mexico, Peru, and the United States.
With a strong commitment to renewable energy and the environment, the company is dedicated to innovation, product standardization, and customer success.