From ESS News
SolarEdge has announced it will close and sell off its energy storage business and assets, resulting in cutting its workforce by about 12%, with those in South Korea mostly affected, as it attempts to restructure its business.
Ronen Faier, the interim SolarEdge CEO, who was appointed in August 2024, said the measures tackle cost cutting, and a closer focus on its core businesses.
“The decision to close our Energy Storage division was the result of a thoughtful analysis of our portfolio of businesses and product lines, industry trends, and the competitive environment,” said Faier.
To continue reading, please visit our ESS News website.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.