China-based solar inverter manufacturer Growatt has started the first phase of its production plant in Haiphong, Vietnam, to manufacture 500,000 inverters and 100,000 batteries annually.

The new facility will manufacture solar and storage inverters along with storage batteries.

Growatt’s Chairman and CEO David Ding said, “The opening of our Vietnam factory is an exciting milestone for Growatt as we forge ahead with our globalization strategy to expand our operations globally. We’ve been investing heavily in globalizing our distribution and service networks over the years, and now we move to open this factory in Vietnam to boost our production capacity and strengthen our capability to deliver reliable and quality products to customers.”

“With energy transition well underway, we aim to advance our technologies and expand our manufacturing capacity to enable homes, businesses, and communities across the world to benefit from sustainable energy,” Ding said.

The company expects the expansion plans to support the increasing demand for storage to manage the intermittency issues of various renewable energy sources.

Growatt will use automated and digital solutions for manufacturing.

The company offers diverse clean solutions in smart energy management, including residential storage inverters, off-grid storage inverters, battery systems, and electric vehicle charging solutions. With the expansion of its manufacturing capacity, Growatt aims to provide homes, businesses, and communities globally with access to sustainable energy.

At a webinar the ‘Battery Storage Solar Systems: An Untapped Market in India,’ hosted by Mercom last year, industry experts said that the steep investment required for lithium-ion battery storage systems is a significant impediment in their large-scale deployment in solar projects even though the return on investment is attractive.

Growatt’s Shantanu Sirsath had told the webinar that the company was expecting better growth in demand for battery storage systems in the coming years.

According to Mercom’s India Solar Market Leaderboard 1H 2022, Growatt was among the top five solar string inverter suppliers, accounting for 94% of the market share during the first half of the calendar year 2022.