Satcon Selected by Q-Cells for 30 Megawatts of California Utility Owned Installations
Company to deliver its industry-leading Equinox Prism Platform solutions across two sites in Central California
BOSTON--(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 Q-Cells North America to supply 30 megawatts (MW) of its Equinox Prism Platform solutions for two sites fully owned and operated by one of California's largest utilities.
These projects are part of the first phase of an innovative, five-year program to speed up the delivery of clean energy to Californias customers. The utility-owned generation program (UOG) enables 250 MW of utility-owned solar PV to be deployed over a five-year period. As part of the 2012 installment of the UOG program, Satcon (SATC) will provide 30 MW of its Equinox Prism Platform solutions across two sites in California.
Satcons Equinox Prism Platforms are a turnkey utility-grade multi-megawatt building block, complete with factory integrated step-up transformers, MV disconnect switches, and power conversion electronics. Prism Platform leverages a combination of Satcons next-generation Equinox PV inverters, with 98.5 percent peak efficiency, 98 percent CEC weighted efficiency and the industrys widest thermal operating range, to deliver best-in-class performance.
Both sites are expected to be grid-connected by mid-2012.
Satcon Technology Corporation® is the leading provider of utility-scale power conversion solutions for the renewable energy market, enabling the industrys most advanced reliable and proven clean energy alternatives. For over 27 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 Q-Cells North America
Q-Cells North America, part of Q-Cells SE, designs, builds and manages financially sustainable solar photovoltaic (PV) solutions. The company brings a decade of global leadership in solar PV to North America, combining best-of-world technology, processes and partnerships to deliver utility-grade solar PV solutions customized for local energy markets. Q-Cells North America offers the full spectrum of PV solutions--from the core technology of cells and modules to power plant development, design, construction, operations and maintenance. With proven capabilities across the solar value chain, Q-Cells North America minimizes uncertainty and risk, and helps customers achieve a higher return on their investment in solar energy. For more information about Q-Cells North America, please visit www.q-cells.com.
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.
Satcon Technology Corporation
Michael Levi, 949-201-5955
Leah Gibson, 617-910-5510
Source: Satcon Technology CorporationCopyright Business Wire 2012