Middle East

SolarEdge posts strong revenue increase, slight drop in net profit

The Israeli inverter manufacturer saw its net profit decline 4% year-on-year to $33.1 million in the second quarter, despite shipping 1.3 GW and seeing a 43% increase in turnover. Gross margins were affected by the increase in U.S. tariffs on China made products.

Long read: Delaying derating

High solar irradiance and few cloudy days are ideal for solar. Fine dust and extreme heat is not – particularly when it comes to power electronics. As the distributed generation market segment emerges in the MENA region, it’s a challenge that inverter suppliers are grappling with.

UPDATE: ACWA offered lowest bid in Egypt’s 200 MW tender

As pv magazine has learnt, the Saudi energy giant lowered its offer to $0.02752/kWh at the last minute, beating the bid lodged by Spain’s Fotowatio, which offered $0.02791 per kWh.

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