Toshiba-Mitsubishi JV says solar inverter orders jump 48% in FY 2014/15
May 20 – Toshiba Mitsubishi-Electric Industrial Systems Corp (TMEIC) said Wednesday it has received 48% more solar inverter orders, or 2,905 MW in total, during its fiscal year through March 2015 compared to a year earlier.
The company, a joint venture of Japanese companies Toshiba Corp (TYO:6502) and Mitsubishi Electric Corp (TYO:6503), has shipped 2,536 MW of the equipment during the period under review. This compares to only 1,606 MW in the previous fiscal year.
Specific details on the jump in both TMEIC’s sales and shipments over the past six years are available in the table below:
TMEIC makes power electronics, rotating machinery and other equipment. The firm was formed in 2003 when the industrial systems units of Toshiba and Mitsubishi were united into a single entity, but its performance has experienced a significant improvement since Japan launched the attractive feed-in tariffs (FiTs) in summer 2012.
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