Power Electronics Reports Record-breaking Financial Results for 2023

By Editor


Power Electronics, a manufacturer of solar inverters for photovoltaic plants worldwide and a leader in energy storage solutions, has unveiled its financial performance for the fiscal year 2023. The company has generated revenue of $1.2 billion, along with an EBITDA of $228 million.

The revenue surge of 75 percent is attributed to the outstanding performance of Power Electronics’ solar and energy storage divisions. Furthermore, heightened demand within the electric mobility sector contributed substantially, generating a revenue of $110 million for that particular division.

With its headquarters situated in Valencia, Spain, Power Electronics has solidified its position as a multinational powerhouse with a workforce exceeding 3,000 employees and a presence in over 100 countries globally by the close of the fiscal year. This expansion underscores the company’s sustained growth trajectory and financial robustness.

Looking ahead, Power Electronics has outlined an ambitious strategic plan for the period 2024-2027, signaling its commitment to innovation and excellence. The plan involves substantial investments exceeding $330 million to expand production capacities in both Spain and the United States. Additionally, the company aims to implement innovative, digitized, and automated production strategies across all divisions.

As part of this initiative, Power Electronics will finalize the construction of a new facility in Lliria, Valencia, dedicated to its Electric Mobility division. Moreover, new manufacturing facilities in the US are slated for inauguration to address the escalating demand for chargers, solar inverters, and storage inverters in these markets.

“Our strategic plan will allow us to continue growing and consolidating ourselves as a global leader in the power electronics sector, contributing to the development of energy transition and sustainable mobility,” David Salvo, CEO of Power Electronics, said.

Power Electronics boasts a presence in nearly 2,000 plants across 35 countries. Its operations in 2023 facilitated the prevention of over 90.6 million tons of CO2 emissions, demonstrating its commitment to environmental sustainability and energy.

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