Satcon Technologies provides a suite of utility grade power conversion solutions and services for commercial and utility scale renewable energy installations and distributed energy markets in the United States and internationally. Its renewable energy solutions include utility grade inverters for solar photovoltaic and fuel cell applications. In 2003, Satcon launched the world’s first single-cabinet PV converted, and since then has introduced a host of other more powerful, more reliable invertors to its wide range of commercial customers. For what was one of the biggest deals of 2008, the company was chosen by General Motors to provide PV invertors for a car manufacturing facility in Spain.
The company has been releasing press the last few days that has investor’s rewarding the stock price. Here’s a breakdown of all the news.
June 8th – The company announced that the Satcon Solstice system solution is now available in Europe, following the successful launch of the solution in North America in the October of 2009. Satcon Solstice delivers fine grained power harvesting and control with advanced utility ready grid interconnection. Its unique design boosts total power production by 5-12 percent over designs using standard inverters, while simultaneously reducing the overall system material costs by 20-25 percent.
June 8th – the company announced that it had been selected by Southern California Edison to supply inverters for at least 75 percent of its Solar Photovoltaic Program Project (NYSEARCA:SPPP). Under the SPPP, there are plans to install, own and operate up to 250 megawatts of solar generating capacity over the next five years, 75 megawatts of which are in immediate development. The product to be installed is Satcon's PowerGate Plus 500 kilowatt solution, the world's most widely deployed utility ready solar PV inverter.
June 9th – The company announced that they have been selected by Q-Cells for multiple large scale solar PV power plants in Ontario, which when completed, will be among the largest PV installations in North America. These projects are contracted under the Renewable Energy Standard Offer Program developed and overseen by the Ontario Power Authority ("OPA") and will connect to local utility PUC Distribution, Inc. They are scheduled to be operational in the third quarter 2010.
June 9th – The company has also introduced its next generation utility ready solar PV inverter solution, Satcon Equinox. With its unparalleled system wide intelligence, Edge MPPT performance optimization and industrial-grade engineering, the Equinox solutions deliver a best in class efficiency of 98.5% and offer the highest levels of system wide performance, uptime and reliability.
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