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Satcon Partners with Wipro EcoEnergy for 40 Megawatts of PV Plant Development in India

Dépèche transmise le 26 juillet 2011 par Business Wire

Satcon Partners with Wipro EcoEnergy for 40 Megawatts of PV Plant Development in India

Satcon Partners with Wipro EcoEnergy for 40 Megawatts of PV Plant Development in India

BOSTON--(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 Wipro EcoEnergy for a total of 40 megawatts (MW) of PV plant development over multiple utility-scale sites in India. Wipro EcoEnergy will leverage Satcon’s PowerGate Plus 500 kW inverter for these installations, which constitute the largest privately developed solar projects in India to date.

“In the rapidly growing Indian economy there is a strong demand for reliable and affordable electricity and we are now uniquely positioned to provide that energy security”

“In the rapidly growing Indian economy there is a strong demand for reliable and affordable electricity and we are now uniquely positioned to provide that energy security,” said G.K. Prasanna, Senior Vice President and Global Head at Wipro EcoEnergy. “Wipro is best positioned to help make India one of the world’s leading solar power markets. Partnering with a leader in utility-scale solar power solutions like Satcon will help us deliver world-class solar energy solutions across India.”

Satcon’s PowerGate Plus inverters are the industry’s most deployed large-scale inverter solutions, with over 2.5 gigawatts (GW) sold worldwide. All of Satcon's solutions include advanced utility-ready features to enable simplified grid interconnection, and can be easily integrated into SCADA systems through standardized communication interfaces. Wipro EcoEnergy will be providing turnkey design, procurement, construction and commissioning, as well as real-time remote infrastructure monitoring, operations, and maintenance for these facilities.

“With its high insolation and its energy deficit of 10 to 15 percent, India is poised to become a strong solar market," said Steve Rhoades, Satcon’s President and Chief Executive Officer. “Wipro’s projects mark an important step forward for India’s solar industry. We are excited to team up with one of the world leaders in advanced technology solutions, and look forward to working closely with Wipro to further develop India’s utility-scale solar industry.”

About Wipro EcoEnergy

Wipro EcoEnergy is the cleantech business of Wipro Ltd. We provide intelligent, sustainable alternatives for energy generation, distribution and consumption. We transform analytical insights obtained from energy data into Sustainable solutions. We help customers reduce their energy footprint, recover higher energy efficiencies from energy deployment and replace conventional with renewable energy sources. (www.wiproecoenergy.com)

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.

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.

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