SMA Solar, the German manufacturer of solar power inverters, will shut down its manufacturing plant in Denver — affecting about 280 full-time employees — as it attemps to survive a global wave of consolidation in the industry, the company said Thursday.
Company officials said the shut down of the Denver plant, as well as the closure of its Cape Town plant in South Africa, would consolidate its infrastructure in the face of competition from cheaper, Chinese-made solar power equipment. A story from Reuters indicated that 280 jobs would be affected, according to the company.
“The acceleration of price pressure in the solar industry has been unexpectedly strong in recent weeks. We therefore immediately initiated measures to lower our break-even point even further,” SMA’s CEO Pierre-Pascal Urbon said in a statement. The announcement didn’t give a timeline for the closure.
The Denver plant made solar power inverters, critical components in the solar power system.
Read more at the Denver Business Journal: http://bit.ly/2aFaOlk