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Satcon Selected by BIOSAR Energy SA for 20 MW of Utility-Scale Solar Projects in Southern Europe

Dépèche transmise le 23 juin 2011 par Business Wire

Satcon Selected by BIOSAR Energy SA for 20 MW of Utility-Scale Solar Projects in Southern Europe

Satcon Selected by BIOSAR Energy SA for 20 MW of Utility-Scale Solar Projects in Southern Europe

BOSTON--(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 has been selected by BIOSAR Energy SA, one of Europe’s leading photovoltaic (PV) solar energy development companies, for multiple utility-scale power plants across Italy, Greece and Bulgaria.

“Together with SDL Solar, we have built a strong foundation to showcase our industry leading utility-ready solar solutions in the region. We are honored to be selected by BIOSAR and to be a part of these innovative utility-scale solar projects.”

BIOSAR will deploy thirty-two 625 kilowatt (kW) Equinox™ inverters, Satcon’s next-generation utility-ready solution. With a peak efficiency of 98.5% and the industry’s widest thermal operating range, Equinox enhances system-wide energy harvest and solar plant yield, enabling the large-scale solar industry's highest return on investment (ROI) and the industry's lowest Levelized Cost of Energy (LCOE).

“BIOSAR is one of the region’s most successful solar energy companies and the largest and most successful EPC in the Balkans,” said Dr. Kostas Daniilidis, Managing Partner of SDL Solar. “These sites will showcase the state of the art in system design and technology, and will achieve the highest levels of performance and reliability. In addition, Satcon inverters’ significantly low consumption will provide more assurance to BIOSAR when offering Performance Ratio Guarantees to investors.”

Built upon Satcon's industry-leading PowerGate® Plus inverter family, the world's most widely-deployed large-scale solution, Equinox's advanced utility-ready features enable remote control of real and reactive power, low-voltage ride through and power factor control. The solution supports fast communications, allowing it to be easily integrated into SCADA systems through standardized communication interfaces.

“The BIOSAR projects continue to demonstrate the strength of the Mediterranean solar market, and in particular, the significant growth in demand for utility-scale solutions," said Steve Rhoades, Satcon’s President and Chief Executive Officer. “Together with SDL Solar, we have built a strong foundation to showcase our industry leading utility-ready solar solutions in the region. We are honored to be selected by BIOSAR and to be a part of these innovative utility-scale solar projects.”

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 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 BIOSAR Energy SA

BIOSAR Energy SA offers integrated solutions in the areas of design, supply, construction and maintenance of medium & large-scale PV systems, acting as an EPC contractor. EU Directive 96/92 and subsequently imposed national legislation 2273/99 to liberalize the power market resulted in BIOSAR Energy SA being founded in 1999 with the clear scope to develop and operate Power Stations from Renewable Energy Sources.

Today, BIOSAR is a member of the largest construction group in Greece ELLAKTOR SA, that acts as a powerful entrepreneurial core of project management, holdings and concessions in the fields of infrastructure, real estate and energy. By combining extensive experience in the RES sector and the reliability given by ELLAKTOR Group of companies, BIOSAR proudly announces that total installed capacity will exceed 110 MW until the end of 2011, making BIOSAR one of the most successful local and international EPC companies in the solar energy sector.

For more information on BIOSAR Energy, please visit: www.biosar.gr.

About SDL Solar

SDL Solar is an Authorized Distributor of Satcon® inverters and a leading PV developer that is active worldwide, with its main focus being the Greek, Italian, Bulgarian and US markets. SDL Solar provides a full range of solutions for PV projects in all stages, from the development of permits and licenses, to the financing, connection, management, ownership and sale of operating PV parks. For more information on SDL Solar, please visit: www.sdlsolar.com.

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 Quarterly Report on Form 10-Q 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.

Business Wire

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