Schneider Electric Acquires Xantrex
Schneider Electric announced it has acquired Xantrex Technology Inc. Xantrex is said to be a top three global player in the solar and wind inverter market. According to Schneider, the renewable energy business is poised for continued high growth, with an expected 2006-2012 annual growth rate of around 30 percent and 20 percent for solar and wind, respectively. Demand is expected to remain strong driven mainly by increasing costs of fossil energies, societal sensitivity to environmental concerns and financial incentives in many countries. Xantrex is focused on the inverter, the key entry point for solar and wind systems solutions, which efficiently converts raw electrical power from renewable energy generators (such as solar photovoltaic panels and wind turbines) into high quality, grid-worthy power.