Kaco Sells its Central Inverter Business to OCI Power

Kaco new energy GmbH has announced the sale of its central inverter business to OCI Power through subsidiary Kaco New Energy Inc. As per reports, the sale will help Kaco to focus on its string inverters and energy storage divisions.

The deal was announced by Woohyun Lee, OCI President, in Seoul; however the financial details of the deal were not yet disclosed.

Both the companies revealed that they will be continuing their close association for the supply and delivery of string inverters in South Korea as well as Japan. Kaco maintained that this was a strategic move by the company to place itself as a leading player in the string inverter market.

Ralf Hofmann, CEO of KACO new energy, was cited saying that the company expects both cost advantages and customer benefits from the implementation of string inventers in multi-megawatt solar parks. He further added that the company can now offer significant system solutions with the additional benefits of improved logistics, speed installations, and with the potential of cutting on operation and maintenance costs.

Ralf also said that acquiring Energy Depot will nothing but reinforce its business portfolio in the global energy storage systems market.