Satcon Expands Commercial Operations in China
03 April 2009 - 2:30AM
Business Wire
Satcon Technology Corporation (NASDAQ CM: SATC), a leading
provider of utility scale distributed power solutions for the
renewable energy market, announced today that it has signed a
distributor agreement with Parity Solar Ltd., a solar project
developer and manufacturer of thin-film photovoltaic (PV) modules
in China. This partnership will offer end-to-end solutions for the
large scale commercial and utility solar energy market in
China.
�The recent incentives set forth by China�s Ministry of Finance
for both solar investments and feed-in tariffs will accelerate the
country�s adoption of solar power projects above 50 kilowatts,�
said Scott Burton, CEO of Parity Solar, Ltd. �Satcon�s solutions
have been field-tested in many of the world�s largest solar
installations and have the proven quality and performance required
to be differentiated and capture a significant share of the large
scale market in China. We are excited to partner with Satcon to
deliver the most advanced end-to-end PV solutions to the Chinese
market.�
Satcon�s utility ready solutions are the industry standard for
large-scale solar PV systems. With eleven power ratings from 30kW
to 1MW, Satcon offers the widest range of products in the
large-scale solar industry. Engineered from the ground up to meet
the demands of utility scale installations, Satcon PV inverters
feature an outdoor-rated enclosure, advanced monitoring and control
capabilities, and Edge�, Satcon�s next-generation MPPT
solution.
�2008 was a year of significant growth both domestically and
internationally for Satcon, and we continue to see escalating
worldwide demand for our innovative PowerGate Plus solutions,� said
Steve Rhoades, President and CEO of Satcon. �Our partnership with
Parity will enable us to deliver Satcon�s industry leading
standards of quality, performance and reliability through a local
sales, service and support network in China.�
About Satcon
Satcon Technology Corporation is a leading provider of utility
scale distributed power solutions for the renewable energy market,
enabling the industry�s most advanced reliable and proven clean
energy alternatives. For over 22 years, Satcon has designed and
delivered the next generation of efficient energy systems for solar
photovoltaic, stationary fuel cells, wind-turbines, and energy
storage systems. To learn more about Satcon, please visit
www.Satcon.com.
About Parity Solar, LTD.
Parity Solar is based in Hong Kong and mainland China and
markets solar products and solutions worldwide including land based
solar parks in conjunction with industry leaders. Parity is
establishing multiple PV module manufacturing operations in China
with combined output in excess of 600MW.
Safe Harbor
Statements made in this press release that are not historical
facts or which apply prospectively are forward-looking statements
that involve risks and uncertainties. These forward-looking
statements are identified by the use of terms and phrases such as
"will," "intends," "believes," "expects," "plans," "anticipates"
and similar expressions. Investors should not rely on forward
looking statements because they are subject to a variety of risks
and uncertainties and other factors that could cause actual results
to differ materially from the company's expectation. Additional
information concerning risk factors is contained from time to time
in the company's SEC filings, including its Annual Report on Form
10-K and other periodic reports filed with the SEC. Forward-looking
statements contained in this press release speak only as of the
date of this release. Subsequent events or circumstances occurring
after such date may render these statements incomplete or out of
date. The company expressly disclaims any obligation to update the
information contained in this release.
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