Satcon Selected for 10 MW Solar PV Power Plant in New Jersey
August 11 2011 - 9:00AM
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 Quanta Renewable Energy Services and Ryan Company to deliver 10
of its 1 megawatt (MW) Prism Platform™ Solutions for the 10 MW (AC)
New Jersey Oak Solar PV Power Plant in Fairfield Township,
Cumberland County, New Jersey. When completed later this year, the
New Jersey Oak Solar project will be the largest non-utility owned
solar project east of the Mississippi.
“The New Jersey Oak Solar project will be one of the United
States’ most advanced solar power plants,” said Michael DonMoyer,
President of Quanta Renewable Energy Services. “This project
showcases the future of large scale solar power production, both in
system-wide performance as well as remote power plant control. Over
the past three years, we have worked with Satcon to successfully
deliver many of North America’s most sophisticated and highest
performing utility scale solar plants. We are pleased to team with
them again for this exciting project.”
The 10 MW solar power plant will utilize Satcon’s Prism Platform
Solution configured with Equinox™ inverters. Prism Platform is
Satcon’s turnkey utility-grade multi-megawatt building block,
complete with factory-integrated step-up transformers, MV
disconnect switches, and power conversion electronics. The solution
leverages Satcon’s next-generation Equinox PV inverters with 98.5
percent peak efficiency and the industry’s widest thermal operating
range. The site will also feature Satcon’s Spectrum™ site
controller which enables the remote control of system power factor
and low-voltage ride-though at the point of interconnection.
“The Oak Solar project demonstrates the next generation of
utility-scale solar power plants in North America,” said Steve
Rhoades, Satcon's President and Chief Executive Officer. “Through a
combination of system design and technology innovation, we are able
to achieve significant improvements in system wide performance,
providing for the industry’s lowest Levelized Cost of Energy while
at the same time enabling rich utility control over the solar asset
itself. We are excited to continue to work with Quanta and Ryan to
be a part of this team of world class solar power innovators.”
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 Quanta Renewable Energy Services and Ryan
Company
Quanta Renewable Energy Services (QRES) was launched in 2008 to
offer renewable specific expertise to clients in this growing
industry. Since its formation, QRES has established itself as a
leading provider of utility-scale photovoltaic solutions with over
100 MW completed or under construction. The Ryan Company is an
experienced firm providing electrical, renewable, telecom and heavy
construction services to private and public agencies. Its strength
lies in the ability to organize, schedule and manage complex
projects for customers constrained by strict rules, timelines
and/or regulations. The Ryan Company, founded in 1949, has
completed hundreds of electrical and utility projects in the past
60+ years. QRES and The Ryan Company are wholly owned subsidiaries
of Quanta Services, Inc., a leading infrastructure services
provider for the electric power, natural gas and pipeline and
telecommunications industries. Quanta has been active for more than
a decade in renewable energy projects including solar, wind and
ethanol/alternative fuels.
About Lincoln Renewable Energy
Lincoln Renewable Energy (LRE) develops utility-scale solar and
wind power projects from greenfield concept to commercial
operation. Its management team has a proven track record in
renewable-energy development. Their efforts have led to the
construction of more than 3,000 megawatts of renewable energy in
North America and Europe over the past 10 years. Since its
formation in 2009, LRE has grown rapidly to be one of the leading
independent developers of solar projects in the United States. With
offices in Chicago, Denver and Hoboken, N.J., LRE operates on a
national scale. To date, LRE has raised more than $65 million in
equity and project finance to fund its rapid growth. Investors
include Austin Ventures, a Texas-based investment firm with $4
billion in capital under management. For more information, please
visit www.lincolnrenewableenergy.com.
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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
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information contained in this release.
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