Conergy to sell PV inverter subsidiary to Bosch

The purchase price of voltwerk electronics is being kept confidential "by mutual agreement".

With a workforce of around 100, voltwerk electronics achieved sales of Euro 68 million in 2010. Its product portfolio includes string and central inverters for photovoltaic plants as well as monitoring systems and storage solutions.

Conergy’s chief operating officer Alexander Gorski says, “over the last few years, a small, but very competent team at voltwerk electronics has developed a portfolio of innovative, efficient and high-quality products. We are very pleased to have found a highly respected and strong investor and partner in Bosch, which will develop the business of voltwerk further and drive it forward on this basis.”

Conergy says the sale - part of its strategic reorientation - also ensures access to the premium inverter range in the future: “In line with our system supplier strategy, we are systematically reducing our own manufacturing depth and focusing Conergy on its international sales activities and on the servicing business, which will become increasingly important in future. After the restructuring of our own module manufacture initiated at the end of November, a further important step in reshaping the company has now been taken with this deal.”

For Bosch, the planned acquisition is important in terms of expanding its involvement in the areas of e-mobility and renewable energies. “With voltwerk electronics Bosch is entering the inverter market, offering a broad product spectrum ranging from 3 kW string inverters to 1,400 kW central inverters,” says Dr Volkmar Denner, Member of the Bosch Board of Management with responsibility for research and advance development.

Voltwerk electronics will be integrated into Bosch Power Tec GmbH, which was founded last January.

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Energy infrastructure  •  Energy storage including Fuel cells  •  Photovoltaics (PV)  •  Policy, investment and markets