By ESS news
SolarEdge has announced that it will close and sell its energy storage business and assets, resulting in a workforce reduction of approximately 12%, with employees in South Korea particularly affected as it seeks to restructure its operations.
Ronen Faier, SolarEdge’s interim CEO, who was appointed in August 2024, said the measures address cost savings and an increased focus on core businesses.
“The decision to close our Energy Storage division was the result of a thoughtful analysis of our portfolio of businesses and product lines, industry trends and the competitive environment,” said Faier.
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