AC drive manufacturer Vacon has held a 'capital markets day' in London for company management to provide information about prospects in the AC drive market, growth factors and the company’s plans in the solar energy sector. To accelerate its entry into this market, Vacon has acquired a small Spanish company that specialises in the design of solar energy inverters.
Renewable energy generation is boosting the global AC drive market, says Vacon. According to estimates by research organizations, investment in the production of renewable energy will rise from its 2009 level of some $90 billion to $150 billion by 2020. Investment in solar energy in particular is expected to increase sharply in the next few years.
In fact, says the company, demand for solar photovoltaic systems positively surprised market expectations in 2009. Products made by Vacon are used in wind power and solar energy generation and the company will launch its new product family especially designed for solar energy generation in the second half of this year.
“Vacon’s business operations are experiencing an increasingly clear division into two growth areas," says President and CEO Vesa Laisi. "One is the long established field of controlling electric motors and the other is renewable energy applications. The AC drive market is going to grow strongly for a long time into the future and Vacon aims to grow faster than the market. Renewable energy will play a major role in achieving our goals,”
