May. 14, 2012–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 GCL Solar Energy, to supply forty-five of their Equinox 500 kilowatt (kW) inverters, along with over 1900 Satcon Solstice Subcombiners, 680 of its SSC Smart Subcombiners, and 64 medium voltage transformers, which will be used in the construction of a 76MW solar power plant in theCaribbean.
“We’ve seen demand for solar PV continue to grow in theAmericasover the last two years. First with commercial systems and most recently in large utility-scale power plants.” saidPete DeGraff, Executive Vice President of Worldwide Sales, Services and Marketing forSatcon. “Satcon’s leading power conversion solutions continue to be deployed by the most respected developers in solar, and we are very proud to have been selected by GCL Energy for this project.”
The Equinox 500kW is the next generation of Satcon’s flagship 500kW solar inverter solution, which has been utilized by the industry’s leading solar developers on over a gigawatt of cumulative PV power systems. With 98.5 percent peak efficiency and the industry’s widest thermal operating range, Equinox solutions improve system-wide energy harvest and solar plant yield for best-in-class performance, enabling the large-scale solar industry’s lowest Levelized Cost of Energy (LCOE). The efficiency gains, compared to other similar solutions, will enable utility-scale plants to produce millions more kilowatt hours over the life of the system, and add millions of dollars to the bottom line of the plant owner operators.
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 27 years, Satconhas 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 GCL-Poly Energy Holdings Limited (stock code: 3800.HK)
GCL-Poly Energy Holdings Limitedis the world’s leading polysilicon and wafer supplier as well as a top green energy enterprise inChina. The product quality of the Group’s polysilicon has reached electronic grade level since 2010, and the Group will ramp up the annual production capacity to 65,000 MTby mid-2012 or before. The Group’s wafer production capacity achieved 6.5 GW at the end ofJuly 2011. Moreover, for the solar system integration business, the Group is devoting itself to providing solar farm investors with a one-stop solar system solution: from project development, engineering, procurement, construction, financing to operation and management.
For more information about GCL-Poly, please visit the company’s website at www.gcl-poly.com.hk.
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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’sSECfilings, including its Annual Report on Form 10-K and other periodic reports filed with theSEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such dpate may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.
Source:Satcon Technology Corporation
Satcon Technology Corporation
Michael Levi, 949-201-5955
michael.levi@satcon.com
or
Leah Gibson, 617-910-5515
Leah.Gibson@satcon.com
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