Satcon Selected by Solar Cells Hellas for 20.5 Megawatts of PV Inverter Solutions for Multiple Solar Power Installations in G...
23 März 2011 - 2:00PM
Business Wire
Satcon Technology Corporation® (NASDAQ CM: SATC), a leading
provider of utility-scale power conversion solutions for the
renewable energy market, today announced that it has been selected
by Solar Cells Hellas for the installation of 20.5 megawatts (MW)
of ground-mounted PV inverter solutions for projects that will be
constructed in various locations throughout Southern Greece.
Solar Cells Hellas will equip the multiple installations with
Solar Cells’ crystalline PV modules and Satcon inverters. SDL
Solar®, a Satcon authorized distributor, and Satcon will supply 10
units of PowerGate Plus 500kW inverters, the world’s most widely
deployed utility-scale inverter, and 31 units of Equinox 500kW
inverters. The PV power plants are expected to be installed and put
into operation throughout 2011 with the final inverter delivery in
September of 2011. The multiple installations will produce enough
electricity to power approximately 8,200 homes.
Satcon’s PowerGate Plus solution family is the world’s most
widely deployed utility-ready solar PV inverter with over 1.5
gigawatts (GW) installed worldwide, including over 1 GW installed
of the PowerGate Plus 500 kW model alone. Equinox is Satcon’s
third-generation central inverter and delivers an industry-leading
98.5% peak efficiency combined with the industry’s widest thermal
operating range.
Mr. Dimitris Panagakos, Chairman of the Board of Directors of
Solar Cells Hellas, stated, “Solar Cells Hellas will develop and
construct a total of 170 MW of its own projects and 130 MW on
behalf of its group of investors in Greece and Bulgaria through
2014. The company has secured financing from Greek banks and is
committed to use Greek component suppliers whenever possible in
order to support Greece’s developing PV market. Solar Cells Hellas
intends to establish a long-term partnership with Satcon based on
its proven reliability and efficiency in utility-scale
projects.”
“As we continue to expand our global market share in each of the
key large-scale solar markets, our partnership with SDL Solar
enables us to drive the next generation of utility-ready solar
growth in Greece,” said Steve Rhoades, Satcon's President and Chief
Executive Officer. “With its attractive feed-in tariff policy and
high solar irradiation levels, Greece is emerging as one of the
leading markets for advanced large-scale solar installations.
Together, Satcon and SDL Solar brought the industry’s most advanced
technologies and system expertise to Solar Cells Hellas to realize
their vision of state-of-the-art utility-scale PV power in
Greece.”
Dr. Kostas Daniilidis, Managing Partner of SDL Solar, stated,
“Together with Satcon, we aim to acquire a significant share of the
PV market in southeast Europe through strategic partnerships, such
as our existing relationship with Solar Cells Hellas.”
About Satcon:
Satcon Technology Corporation® is the leading provider of
utility scale power conversion solutions for the renewable energy
market, enabling the industry’s most advanced reliable and proven
clean energy alternatives. For over 26 years, Satcon has designed
and delivered the next generation of efficient energy systems for
solar photovoltaic, stationary fuel cells, and energy storage
systems. To learn more about Satcon, please visit
www.Satcon.com.
About Solar Cells Hellas S.A:
Solar Cells Hellas is the first vertically integrated PV
producer in southeast Europe, operating state-of-the art production
equipment of the highest industrial standards to produce high
quality wafers, cells and modules with an annual production
capacity of 80 MWs. As a leading Greek company, Solar Cell Hellas
also develops, constructs and delivers operating PV parks and will
construct a total of 290 MWs in Greece and Bulgaria until 2014. For
more information on Solar Cells Hellas, please visit:
www.schellas.gr.
About SDL Solar:
SDL Solar is an Authorized Distributor of Satcon® inverters and
a leading PV developer that is active worldwide, with its main
focus being the Greek, Italian, Bulgarian and US markets. SDL Solar
provides a full range of solutions for PV projects in all stages,
from the development of permits and licenses, to the financing,
connection, management, ownership and sale of operating PV parks.
For more information on SDL Solar, please visit:
www.sdlsolar.com.
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 Satcon’s expectation. Additional
information concerning risk factors is contained from time to time
in Satcon’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. Satcon expressly disclaims any obligation to update the
information contained in this release.
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