Satcon to Supply 18 Megawatts of PowerGate® Plus PV Inverters Across 40 Power Plants Under Ontario Feed-In Tariff Program
March 09 2010 - 7:30AM
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 78 of its industry
leading PowerGate® Plus solar PV inverters to OZZ Solar Inc. The
power conversion solutions will be deployed on commercial rooftop
projects across the province of Ontario, and will be fully
compliant under the Ontario Feed-In Tariff (FIT) program launched
in 2009.
The 40 rooftop projects under development by the OZZ Solar Inc.
program will utilize Satcon’s PowerGate Plus 250kW and 100kW solar
PV inverters, customized for 600 VAC, which became generally
available in January of 2010. As the world’s leader in grid
connected commercial and utility scale solar PV solutions, Satcon’s
technology provides the industry leading Levelized Cost of Energy
(LCOE), critical to attaining the most profitable power production
under the recent FIT program.
“These installations mark the beginning of major growth for
large scale, grid-tied rooftop solar power plants in Canada and are
a significant step in the implementation of Ontario’s Feed-In
Tariff program,” said Jonathan Goldman, Executive Vice President of
OZZ Solar Inc. “These projects required the most advanced, highest
performing, and most reliable systems that could deliver reliable
performance in the harsh Ontario climate. Satcon’s best-in-class
solutions and their commitment to partner with us to drive value
from the design stages over the entire lifespan of the project were
the key factors in our decision to partner with them.”
The PowerGate Plus 250kW and 100kW 600 VAC output inverters meet
all requirements mandated under FIT regulations, and are specially
designed to operate at full performance at temperatures as low as
negative 40 degrees Celsius/negative 40 degrees Fahrenheit. In
addition, the PowerGate Plus solutions will be manufactured in
Burlington, Ontario, making them the only large scale inverter
solutions that are 100% compliant with the Ontario FIT local
content requirements.
“With these first set of projects, OZZ Solar is stepping to the
forefront of commercial solar development in Ontario,” said Pete
DeGraff, Satcon’s Vice President of Worldwide Sales and Marketing.
“With a long history of manufacturing world-class products in
Ontario, Satcon is a proud partner in OZZ Solar’s commercial solar
projects, and a highly committed local developer to the Ontario
government’s commitment to clean energy production.”
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 OZZ Solar Inc.
OZZ Solar Inc., based in Toronto, is the Canadian leader in
rooftop solar generation development. OZZ offers the most
comprehensive and vertically integrated partnership currently
operating within this new and exciting space of renewable
generation. OZZ guarantees its partners the ability to utilize
their real estate for the production of clean power, which is both
financially lucrative and environmentally conscious.
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.
Satcon Technology Corp. (MM) (NASDAQ:SATC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Satcon Technology Corp. (MM) (NASDAQ:SATC)
Historical Stock Chart
From Jul 2023 to Jul 2024