SMA acquires stake in US firm Tigo Energy

Share

Germany’s SMA Solar Technology AG will acquire a 27% stake in the Los Gatos, California-based Tigo Energy, Inc., in a $20 million capital increase deal.

As part of the agreement, SMA has secured for 30 months exclusive rights for worldwide sales of Tigo Energy’s new TS4 Retrofit product platform for module optimization.

SMA will aslo have a seat on Tigo Energy’s board of directors as the two companies cooperate in the areas of research, sales and service.

The strategic partnership gives SMA access to the strongly growing module-level power electronics (MLPE) market, which has an annual market volume estimated at some €700 million. In addition, SMA will deploy the new solution for expanding its data-based business models.

Meanwhile, SMA’s managing board confirmed its sales and profits guidance for the 2016 fiscal year. This year the company estimates sales between €950 million and €1.05 billion and a considerable increase in profits to between €80 million and €120 million.

Share

Related content

Elsewhere on pv magazine...

1 comment

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.