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Category: Investment, Solar, Renewable Energy
Solar Stocks: Satcon (NASDAQ CM: SATC), to Ship 38 Megawatts of its 500kW PowerGateŽ Plus Inverters to GCL for Projects in China
Company's Industry-Leading Utility Scale Inverters to Power Three Solar Power Plants with Completion in First Half of 2010
BOSTON - March 3, 2010 (Investorideas.com Green/Renewable energy newswire) - Satcon Technology Corporation (NASDAQ CM: SATC), a leading provider of utility scale power solutions for the renewable energy market, today announced that it has been selected to ship 38 megawatts of its PowerGateŽ Plus 500 kW solar PV inverter solutions to GCL Solar Limited, one of China's largest utility solar power plant developers.
"GCL continues be a key driver in the rapid growth of China's utility scale solar market"
The 38 megawatts will be installed across three separate solar power plants and are in addition to the previously announced 23 megawatts supplied for China's largest ground-mounted and largest rooftop projects of 2009. Each installation will utilize Satcon's PowerGate Plus 500 kW inverters, the world's most field-tested and the proven large scale solar power solution.
The first 10 megawatt Youyu City site will be located in the Shanxi Provence and will supply power to Shanxi International Power Solar Power Generation Ltd. Another 10 megawatt Pingluo County Shizuishan City plant will be located in the Ningxia Hui Nationality Municipality and will supply power to Ningxia State Power CSI New Energy Developer Ltd. An additional 20 megawatt site will be constructed in the first half of the year and is expected to be energized in late summer.
"These new projects demonstrate the increased momentum of the utility scale solar marketplace in China," said Dr. Gu Huamin, General Manager of GCL Solar Limited. "As we build on this foundation that has been established over the past year, we must provide the highest levels of performance, reliability, and value to our customers. Satcon is an important partner for GCL as we continue to develop and deliver China's largest and most advanced solar power plant facilities."
"GCL continues be a key driver in the rapid growth of China's utility scale solar market," said Steve Rhoades, Satcon's President and Chief Executive Officer. "The increased scope and volume of these installations highlight the importance of engineering and construction innovation supported by the worlds most advanced and reliable technology solutions. With these new power plants, GCL expands its leadership position in both the China and the global utility scale solar market. We are excited and honored to be a valued partner to GCL as we work together to help make China become one of the world's leading utility scale solar power producing countries."
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, and energy storage systems. To learn more about Satcon, please visit www.Satcon.com.
About GCL Solar Limited
GCL Solar Limited, part of the GCL Group, is located in Nanjing China and covers an area of more than 330 thousand square meter of PV base. The company has established business academicians' workstations and post-doctoral research station. GCL Solar has a complete professional engineering and technical personnel of more than 300 people that has project implementation experience with strong solar technology of research and development, engineering design, equipment manufacturing, systems integration and turn-key project of PV power plant.
GCL Solar Limited specializes in consulting, design, system integration and total project contracting services of all kinds of solar system, such as medium and large sized of on--grid solar power plants, small--scale off--grid power PV systems, PV/wind power hybrid generating system, BIPV, BAPV rooftop systems engineering project and so on. The company has successful completed the largest PV power plant (20MW) on the ground and the largest BAPV (3MW) project in China that is guided by General Manager Dr. Gu Huamin since 2009.
To learn more about GCL Solar limited, please visit www.gcl-eng.com or www.gcl-solar.cn.
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