The inverter and battery manufacturer says its new Sella 2 factory will produce cells for its residential solar-plus-battery products as well as for other applications.
SolarEdge has reported record revenue in its latest three-month update and expects to have even more business in the second quarter, even if gross margin and profit has declined.
With comparisons with a Covid-hit 2020 inevitably offering a string of positive numbers, there was also little to concern the board of the inverter and battery manufacturer from the returns generated in the last quarter.
The inverter and battery manufacturer said it has been sitting on a record order backlog for the current three month window and the opening quarter of the new year, which may in part be down to a long Covid shutdown at its Vietnamese production base.
Full-year revenues nudged up despite tough comparisons with the end of 2019 for the final quarter of last year. The inverter maker expects to log revenues of $385-405 million in the current three-month window.
The third-quarter results for the inverter maker are in and look promising. All performance indicators are up for the steadily growing company.
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