PHOTOVOLTAIC: CONVERT LANDING IN ARGENTINA WITH A NEW OFFICE

The company will provide Argentina's next PV plants construction the Tracker TRJ, single axis tracker patented by the company that moves solar modules based on the Sun position for a 25% higher performance than fixed modules.

Convert, an Italian company active for 35 years in the energy sector, among the first four global manufacturer (source: GTM Research and HIS Markit) of tracker (single axis tracker), has just opened a new office in Buenos Aires. The announcement was given in the presence of the Argentina Minister of the Energy Juan Josè Aranguren in the first day of AIREC, International Renewable Energy Congress that takes place in the capital of Argentina until October 5, of which Convert is sponsor. The company will provide Argentina's next PV plants construction the Tracker TRJ, single axis tracker patented by the company that moves solar modules based on the Sun position for a 25% higher performance than fixed modules.


"The decision to open an office in Buenos Aires - says Giuseppe Moro, founder and president of Conver - is based on the need to establish strong relationships with local operators and to take advantage of the investment and growth opportunities that will come with the photovoltaic development in Argentina. The industry is in a strong abuzz, thanks also to the investment plan of more than 5 billion that the Government has allocated to the renewable sector. We have already started the process of certification of TRJ as an Argentine product, that will use local components continuing to use the technological value and the know-how Made in Italy".

Argentina plans to launch 2GW power production from renewable sources by the next year, of which 500 MW of photovoltaic. The final goal is that in 2025 the 20% of the energy produced in the country comes from renewable sources.

Convert is also present in Brazil with the company Convert do Brazil, which in 2016 provided its trackers for the Ituverava plant (State of Bahia), the largest in the world with single azxis tracker technology, for an extension of 630 hectares and 260 MW of production capacity. This year, the company led by Giuseppe Moro has signed an agreement in Brazil to provide 220 MW (about USD 35 million) of TRJ tracker for Sao Pedro (Rio Grande) and Juazeiro (Bahia) projects.

In 2015, in Latin America, Convert provided 97 MW of trackers for the Carrera Pinto plant (Atacama desert), one of the Chile's largest photovoltaic park with single axis tracker technology.

Convert closed 2016 with revenues of about 42 million Euros (+ 300% on 2015) and a gross operating margin (MOL) of 8 million Euros. Thanks to contracts already closed, company revenues are assumed to increase by 10% in 2017 and by 20% in 2018.

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