From ESS News
SolarEdge has announced it will close and sell off its energy storage business and assets, resulting in cutting its workforce by about 12%, with those in South Korea mostly affected, as it attempts to restructure its business.
Ronen Faier, the interim SolarEdge CEO, who was appointed in August 2024, said the measures tackle cost cutting, and a closer focus on its 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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