Denver Chosen as Site for Major Solar Installation

German-based firm SMA Solar Technology AG, the worldwide market leader for photovoltaic converters, announced plans this week for a major new installation to be located in Denver.

The U.S. production facility in Denver will be the largest U.S. production operation for solar inverters, which are a key component in all solar power plants. It is expected to begin operation in 2010.

Pierre-Pascal Urbon, the company's chief financial officer, said, "We see a huge market coming in the U.S.," the Denver Post reported ("City Lands Solar Plant," Oct. 27, 2009). Similarly, Gunther Cramer, CEO of the company, said, "In the medium term, we expect the U.S. market to become the largest solar market globally. With the new production in Denver, SMA will be able to reduce transportation and interim storage costs as well as currency exchange risks."

Denver Mayor John Hickenlooper, who has set ambitious green energy targets for the city, said, "This move helps solidify Colorado's place as a global leader in renewable energy under Gov. Bill Ritter."

The Denver facility will be SMA's first facility outside Germany.

In 2008, the SMA Group, of which SMA Solar Technology is a part, had sales of more than $1 billion. It is headquartered near Kassel in Germany.

This announcement is yet another example of how Colorado is becoming the center of the new energy economy.