The Economy Project
(2009-10-26)
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DENVER, CO
(KUNC) -
A German solar company has announced plans to build its first North American manufacturing site in Denver.
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SMA Solar Technology makes the converters that allow solar energy to be transformed into real power on the electricity grid. They're considered a global leader in this technology and one of the pioneers of the so-called smart grid, which is popping up in American cities, including Boulder.
SMA's chief financial officer Pierre Urbon says Colorado was attractive because of the state's business climate toward renewable energy companies.
"As a global company, we have made the decision to expand our production in Denver because the city offers optimal flexibility for our future growth," Urbon says.
SMA expects to hire about 300 people once its plant near the old Stapleton airport becomes fully operational next year, but the site will be able to handle a workforce of 700.
Denver Mayor John Hickenlooper said the announcement is good news for the region's economy.
"Not only do we create more jobs in our community, but at the same time, we're creating cleaner air, a safer and more secure world," says Hickenlooper.
SMA's expansion into North America marks the largest capital investment the company has ever made outside of Germany - $20 million. The U.S. solar market is expected to soon be one of the largest in the world. Colorado officials hope that will translate into their state being one of the top manufacturing sectors in the country.
The company is the latest in a growing cue of renewable energy companies that have expanded or relocated to Colorado in recent months.
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