China's Huawei Technologies Co Ltd has established a team in Spain for its solar string inverter division, Huawei FusionSolar, in a bid to seize opportunities in the country’s growing photovoltaic (PV) market.
Huawei said Friday that Spain would be the priority market for the business unit, which already has a team of 15 in the sales and pre-sales departments.
Last year, Spain installed 261.7 MW of new PV capacity, a 94% increase compared to the previous year and up by 500% compared to the 2016 installations, Huawei said citing data by the Spanish Photovoltaic Union (UNEF). The Spanish PV market could grow up to, or even surpass, EUR 5 billion (USD 5.7bn), the Chinese company added.
In 2018, engineering, procurement and construction (EPC) firm Grupotec selected Huawei as the supplier of string inverters for a series of Spanish solar projects with a combined capacity of 168 MW. Huawei expects to negotiate new contracts in Spain throughout the year eyeing an order volume of more than 3 GW. It also intends to grow its business through government-awarded projects and power purchase agreements (PPAs) with private companies, as well as offer solutions for self-consumption schemes.