The Chinese inverter manufacturer Hoymiles has commenced commercial activities at its inaugural international factory located in Monterrey, Mexico.

The facility will manufacture the company’s microinverters, specifically the HMS-2000-4T and HMS-2000DW-4T series, intended for residential and commercial solar applications. Hoymiles indicated that the project will have an annual production capacity of 500,000 units, with plans to increase this capacity to one million units in the future, although a specific timeline for this expansion has not been provided.

“The establishment of the Monterrey facility represents a significant milestone and showcases our dedication to bolstering renewable energy transitions in North and Latin America,” stated Dr. Yang Bo, CEO of Hoymiles. “This factory will play a vital role in addressing the increasing demand for solar and energy storage solutions in the region.”

This development marks a significant achievement for the company, as it represents its inaugural manufacturing facility established outside of China. Before the Monterrey factory came into operation, Hoymiles had an annual production capacity of two million units. Therefore, the inclusion of microinverters from the Mexican plant will serve as a substantial expansion to its global presence.

As global solar capacity expands swiftly—data from Ember Climate indicates a potential addition of 593GW of new capacity this year—the need for technologies like inverters is expected to surge. Statistics from Wood Mackenzie reveal a 56% rise in the world’s solar inverter shipments between 2022 and 2023. A significant portion of the world’s inverter manufacturing capacity is centralized among a few key Chinese companies, with the top ten inverter manufacturers collectively holding an 81% share of the global market.

Nevertheless, significant investments in the inverter sector extend beyond these prominent companies. Earlier this year, Spanish inverter maker Ingeteam disclosed an agreement to provide 1GW of its inverters to fellow Spanish renewable energy firm Acciona Energía for three solar ventures in the United States.