Growatt, a Chinese solar inverter manufacturer, has begun the first phase of its production plant in Haiphong, Vietnam. The facility will have an annual capacity of 500,000 inverters and 100,000 batteries. The new facility will also be equipped to produce solar and storage inverters, as well as storage batteries. 

The company anticipates that its expansion plans to meet the growing demand for storage to manage the intermittent nature of various renewable energy sources. Residential storage inverters, off-grid storage inverters, battery systems, and electric vehicle charging solutions are among the clean solutions offered by the company in smart energy management. Growatt intends to expand its manufacturing capacity in order to provide sustainable energy to homes, businesses, and communities worldwide.

In September 2022, Growatt signed a 300 MW package deal in Turkey with Form Elektrik. This agreement will support in meeting market demand for dependable and advanced solar energy products and solutions, particularly in the C&I solar market.

REGlobal’s Views: In the current geopolitics and focus on improving domestic supply chain security, many governments are opting for import reduction policies. Thus, this move by Growatt to set up a production facility in Vietnam will help the company secure its operations in important strategic markets outside its home country.