Alternative energy supplier saw 79% growth in 2023

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

Further reading:

DMASS 2024 results
News
The semiconductor business faced a severe downturn, with a 31,9% decrease compared to 2023 and a 30,3% drop in Q4 2024 compared to the same period last year.

Read more...

---

Using satellite comms to end copper theft
News
According to Transnet COO Solly Letsoalo, the scourge of copper theft could be a thing of the past by eliminating the use of copper cabling and switching to a satellite communication system.

Read more...

---

Strategic merger: Etion Create and Nanoteq
Etion Create News
Reunert has announced the successful merger of two business units within the Applied Electronics Segment, namely Etion Create and Nanoteq, effective 1 October 2024.

Read more...

---

Securex South Africa 2025
Specialised Exhibitions News
Securex South Africa 2025 is co-located with A-OSH EXPO, Facilities Management Expo, and Firexpo to provide a time-saver for visitors looking for holistic solutions for their facilities.

Read more...

---

Chinese AI causes Silicon Valley stocks to tumble
News
Many stocks took a downward spike, with Nvidia being the hardest hit, losing 16,9% after one day’s trading.

Read more...

---

Silicon Labs 4th quarter results
News
Silicon Labs has reported financial results for the fourth quarter with highlights including a total revenue of $166 million and Home & Life revenue up 11% to $78 million.

Read more...

---

Comtest Group celebrates 20 years!
Comtest News
The Comtest Group is proudly celebrating 20 years of successful trading in the southern African test and measurement, communications, equipment, solutions, and specialised systems markets.

Read more...

---

World’s first wood-panelled satellite launched
News
Developed by researchers at Kyoto University, it is hoped that wood can be used in future designs to replace certain metals.

Read more...

---

IIE receives full accreditation from ECSA
News
The Independent Institute of Education (IIE) has received full accreditation from the Engineering Council of South Africa (ECSA) – the first private higher education provider in the country to be recognised in this manner by the industry authority.

Read more...

---

AMCOM product selection guide
RFiber Solutions News
AMCOM Communications, who specialise in a wide range of MMIC components, has released its 2025 semiconductor product selection guide.

Read more...

---