Gecko Renewables, a leading renewable energy project consultancy and component distributor, announced its strategic cooperation with FoxESS, a global leader in the development of inverter and energy storage solutions. Under the terms of the agreement, Gecko Renewables will distribute the FoxESS portfolio of products across Spain via its offices in Madrid and Valencia. The partnership with Gecko Renewables is expected to boost FoxESS’ already growing market share by benefiting from Gecko Renewables strong European and African presence.
The Global PV Inverter Market was valued at approximately USD 8.82 billion in 2020 and is anticipating a healthy growth rate of more than 5.00% over the forecast period 2021-2027 to reach USD 12.41 billion. According to Bloomberg, in 2019 Europe invested over USD 75 billion across the sustainable energy sector out of which over 30% of total investment was allocated to the solar energy sector. With ongoing advancements in technology, the adoption and demand for PV Inverters is likely to increase the market growth during the forecast period.
“This significant and strategic opportunity with Gecko Renewables will enable us to capture an increasing share in the global PV inverter and storage markets.” said Ricky Cai, VP at FoxESS. “We are building on the success of previous projects with the Gecko Renewables team, who already have a successful track record of more than 1.1 GW of worldwide installations. We are proud to have Gecko Renewables as one of our leading partners in Europe.”
He added; “The European market, and the Spanish market in particular, has been heating up since 2018 due to our on-going sales support programmes. FoxESS has established several European branches and local service teams to provide faster responses and a comprehensive range of products to our customers.”
“We are both proud and excited to be partnering with FoxESS, one of the world’s leading PV inverter and battery storage companies. They are renowned for their product quality, extensive patents, and engineering expertise,” Bryn Foulkes-Jones, Gecko Renewables Founding Partner, and Chief Strategy Officer, said in a statement last week. “We are committed to participating in maximising the ability of solar to provide sustainable energy and contributing towards ongoing post Covid-19 economic development across Europe and Africa.”
“Europe remains one of the most important renewable energy markets globally and the African market is set for unparalleled growth.” said Jaime Casanova, Gecko Renewables Founding Partner, and Chief Innovation Officer. “The innovative solar inverters, hybrid inverters, lithium batteries, and all-in-one storage systems by FoxESS are terrific for the C&I spectrum in Spain, one that is developing quickly, and we are very proud to bring them to the market.” he said.
