German solar energy equipment supplier SMA Solar Technology AG forecasts global investment growth in photovoltaic system technology to gain 11% on year to 15.8 billion euros ($16.9 billion) in 2023.
World-wide growth in newly installed PV systems is set to rise to as high as 335 gigawatts in 2023, compared with 212 GW in 2022, according to SMA in its January-September 2023 earnings statement released on Thursday.
The company anticipates growth in newly installed PV power within the Europe, Middle East and Africa region to reach between 59 GW and 61 GW in 2023, up from 51 GW last year, due to demand growth in the Middle East, Africa, as well as Germany, Italy, Sweden and some East European countries.
According to SMA estimates, investment in PV and storage system technology across EMEA will rise to around EUR4.7 billion in 2023 from EUR3.8 billion last year.
The Niestetal, Germany-based supplier posted sales of EUR1.34 billion in January to September 2023, up from EUR724 million for the same nine months last year.
EBITDA over the same period rose to EUR231.2 million compared to EUR50.2 million in 2022.
SMA also forecast sales of between EUR1.8 billion and EUR1.9 billion for full year 2023, up from EUR1.7 billion in 2022.
— Reporting by Rob Sheridan, [email protected]; Editing by Yazdi Merchant, [email protected]
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