Alternative energy supplier saw 79% growth in 2023

News

31 May 2024 News

Sungrow, a global supplier of PV inverter and energy storage systems, recently released its annual report for 2023. Sungrow’s operating revenue saw a massive 79% boost in 2023, reaching $10,2 billion. The company’s net profit attributable to shareholders increased by 162% to $1,3 billion. This increase is attributed to the company’s expanding customer base and increased market share in key regions worldwide.

Sungrow’s shipments have surpassed 130 GW due to the increase in the global uptake of renewable energy. Its battery energy storage systems also increased to 10,5 GWh, due to the increase in off-grid applications.

In 2024 the company has allocated $347 million towards R&D, and it currently employs 5372 members in its technical R&D; division. It has also expanded its reach in the global market, with a 58% increase in its overseas employee count.

For more information visit www.sungrowpower.com

Share this article:

From the editor's desk: Can IoT innovation in SA be a thing?
Technews Publishing News
To support a cellular-based IoT industry, more needs to be done to address the cost and connectivity issues plaguing local players, and until that is done, SA will continue to remain at the back of the pack.

Read more...

Silicon Labs’ second quarter results
News
Silicon Labs recently released its second-quarter financial highlights with a reported revenue of $145 million and operating expenses totalling $125 million.

Read more...

Conical has moved
Conical Technologies News
Conical Technologies recently moved into new premises located at 434 Rigel Avenue, Erasmusrand, Pretoria.

Read more...

Lifetime achievement award
News
KIOXIA, the inventor of NAND flash memory, is the recipient of the FMS: the Future of Memory and Storage Lifetime Achievement Award for 2024 for its vertical stacking technology.

Read more...

Solar Youth Academy training programme
News
At the beginning of May 2024, 23 young people embarked on a solar training programme at the Solar Youth Academy in Cape Town. This pilot group has now graduated the first stage, with internships being provided for each graduate, providing proof that SA finally has a working and sustainable youth training programme with the potential to change lives.

Read more...

Three lessons learned from successful SMEs over the past 27 years
Editor's Choice News
Companies that prioritise employee growth and create a positive work environment tend to have higher employee retention rates and better overall performance.

Read more...

Robbie Venter, former CEO of Altron, passes
Altron Arrow News
It is with sadness that we report on the passing of the former chief executive and board member of South African technology group Altron, Robert (Robbie) Venter.

Read more...

AI pest detection tool wins Africa Prize for Engineering Innovation
News
Esther Kimani’s early crop pest and disease detection device was selected as the winning innovation for its ability to swiftly detect and identify agricultural pests and diseases, reducing crop losses for smallholder farmers.

Read more...

Categories

News

Alternative energy supplier saw 79% growth in 2023

Further reading:

Publications by Technews