INTERNATIONAL BUSINESS DRIVES HIGHER-THAN-EXPECTED THIRD QUARTER REVENUES FOR GERMAN SOLAR COMPANY
As Germany’s Solar Market Plateaus, CENTROSOLAR™ Sees American Market as Key to Future Growth
CENTROSOLAR America today announces that the higher than expected third quarter revenues shown by its parent company supports its strong position for long-term growth in the U.S. solar market. Despite steep cuts in feed-in tariffs in July 2010, resulting in a slower solar market in Germany, CENTROSOLAR Group AG has matched its total 2009 revenues over the first three quarters in 2010, with revenues up 53% compared to the first three quarters of 2009. Almost two-thirds of the Company’s revenues for the quarter were generated outside Germany, with international revenues up 85% over the same quarter a year ago.
With strong positions already established in Italy and France, CENTROSOLAR sees the US market, along with Benelux and the UK, as key to future growth. CENTROSOLAR America, the U.S. subsidiary of CENTROSOLAR Group AG, markets residential and commercial rooftop PV systems to solar integrators as well as skilled trades such as electrical, HVAC, and roofing contractors throughout the US.
“Reliability is critical to the solar installation process,” said CENTROSOLAR America CEO Deep Chakraborty. “Installers want reliable technology and support from a solar technology company with solid financial footing. With our heritage of German engineering excellence and ‘tried and true’ products installed throughout Europe, we provide our partners and their clients the solar products and long-term support they need.”
As another sign of robust company growth and commitment to its operating subsidiaries, Chakraborty pointed to recent CENTROSOLAR investment in its manufacturing facility in Wismar, Germany, increasing its capacity from 155 MWp to nearly 200MWp.
CENTROSOLAR America offers a complete, seamless suite of residential solar installation products and support services for its partners, including the CentroPack®, the complete, pre-packaged and ‘out-of-the-box’ rooftop installation system for installers and the C-Series, CENTROSOLAR America’s latest in its series of German-engineered and manufactured PV modules.
