Satcon Receives Largest Single Order to Date, Extending Its Global Leadership Position in Utility Scale Solar
24 February 2010 - 12:30AM
Business Wire
Satcon Technology Corporation (NASDAQ CM: SATC), a leading
provider of utility scale power solutions for the renewable energy
market, today announced that it will deliver 30.5 megawatts of its
PowerGate® Plus solar PV inverters under a global master supply
agreement with ENERGY 21 Group, one of Europe’s largest private
power utilities. The solutions provided within this order will be
used to power fifteen solar power plants in the Czech Republic.
These installations qualify as part of the Czech Republic’s
Feed-In Tariff program, which is projected to create over 500
megawatts of grid-connected PV power plants through 2011. The power
stations will be owned by ENERGY 21, who specializes in the
construction and operation of large scale solar plants in the Czech
Republic and Slovakia. CE Solar, the EPC division of ENERGY 21,
will deliver and maintain the solar PV plants which will be
constructed in the first half of the year.
“The utility scale solar power market in the Czech Republic is
poised for significant growth in 2010 as demonstrated by these
projects,” said Daniel Kunz, Chief Executive Officer of ENERGY 21.
“Satcon is a trusted partner of ENERGY 21. Our experience working
with them on some of the largest installations across the Czech
Republic and Slovakia over the past two years gives us tremendous
confidence that these new solar plants will deliver the highest
level of reliability and performance, and provide the strongest
value to our shareholders.”
In addition to thirty-three of Satcon’s industry-leading
PowerGate Plus 500kW inverters, the order also included thirteen of
the company’s one megawatt PowerGate Plus CE inverters, four 250kW
CE PowerGate Plus inverters, and over six hundred of its recently
introduced smart subcombiners, the Satcon SSC™ solution.
“ENERGY 21 continues to demonstrate its leadership position
within the European utility market,” said Steve Rhoades, Satcon’s
President and Chief Executive Officer. “As the demand for advanced,
reliable utility scale solutions in Europe continues to grow, our
partnership with ENERGY 21 helps us build a strong foundation in
the Czech Republic to showcase our industry-leading, utility-ready
solar PV inverter solutions. We are honored to be selected by
ENERGY 21 and CE Solar to be a part of this world-class team of
solar power innovators.”
About Satcon
Satcon Technology Corporation is the leading provider of utility
scale power solutions for the renewable energy market, enabling the
industry’s most advanced reliable and proven clean energy
alternatives. For over 24 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 ENERGY 21
ENERGY 21 is a Czech investment company specializing in
development, construction and operation of solar power plants.
Through its daughter company CE Solar Services it is ensuring also
construction of roof and ground-based solar projects for third
parties and sale of photovoltaic technologies. ENERGY 21´s projects
belong to the largest in the CEE region and range the company among
the key players in the Czech photovoltaic market. To learn more
about ENERGY 21 and CE Solar, please visit www.energy21.cz or
www.cesolar.cz.
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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