Mastervolt, a leading supplier of electrical power solutions to the solar, recreational marine, professional marine and mobile markets, has announced record net sales of almost € 40 million for 2006, which represents an increase of around 25 percent on 2005. The solar energy industry seems to have ahead a neverending growth.
For the rapidly growing solar energy market, Mastervolt specialises in offering power electronics that convert solar power into electrical energy. Mastervolt supplied the equivalent of 55 MWp (Mega Watt Power) solar inverter power in 2006 and is planning a volume of 70 MWp for 2007. “The solar business was particularly strong during 2006,” Kenninck explains. “We consolidated our top 6 ranking in Germany and thanks to swift action, we were able to profitably leverage on the emerging opportunity in Spain following the recent introduction of favourable subsidies for solar energy by the Spanish government. Our solar inverters are now certified for use in the UK, France, Belgium, Italy, Australia, Korea and many other countries” .
Mastervolt CEO Paul Kenninck attributes the ongoing success at Mastervolt to the reinforcement of its product line. “Highlights included the introduction of new products, further geographic expansion, and a strong marketing and sales programme aimed at building the strongest possible franchise with our customers. Looking ahead, the macro-economic and market trends also seem favourable. We have a number of promising new products and plans in place to exploit market opportunities. I am confident that we will be able to maintain a high growth mode in 2007.”
