Teams with Sanmina-SCI Corporation for Continued Production of Utility-Scale Inverters for the Ontario Feed-In-Tariff (FIT) Program
BOSTON--(BUSINESS WIRE)--May. 3, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power solutions for the renewable energy market, today announced that it has finalized a strategic manufacturing agreement with Sanmina-SCI Corporation to manufacture its industry-leading solar inverter solutions in order to comply with Ontario’s Feed-in-Tariff (FIT) program.
Under the terms of this agreement, Sanmina-SCI will manufacture Satcon’s PowerGate® Plus 50 kilowatt, 100 kilowatt, 250 kilowatt, and 500 kilowatt inverters along with Satcon’s industry-leading Prism Platform™ solutions in Ottawa, Ontario. With over two gigawatts (GW) of Utility-Ready solutions shipped, including over 100 MW in Ontario alone, Satcon solutions help power the world’s most advanced solar farms.
“The Canadian Solar market has developed steadily over the past three years and is poised for significant growth in the future,” said Pete DeGraff, Satcon's Executive Vice President of Worldwide Sales, Services and Marketing. “Our strategic partnership with Sanmina-SCI enables us to continue to deliver the industry’s highest performing, highest quality solutions to the Ontario market and maintain our leadership position as Canada’s largest commercial and utility-scale inverter manufacturer.”
Satcon’s Utility-Ready inverter solutions are the industry’s most advanced and proven large scale power conversion technologies and deliver intelligent power plant management, enabling improvements in total power plant reliability and yield through more powerful system monitoring, diagnostic, and remote control functionality. Satcon inverters enable instant voltage stabilization, frequency control, dynamic grid support, and secure the continuous operation of the PV plant in the event of dynamic ground faults, achieving the performance guidelines set forth by the German Association of Energy and Water Industries (BDEW 2008 Grid Connection Standard).
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 27 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 Sanmina-SCI Corporation
Sanmina-SCI Corporation is a leading electronics contract manufacturer serving the fastest-growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina-SCI provides end-to-end manufacturing solutions, delivering superior quality and support to OEMs primarily in the communications networks, defense and aerospace, industrial and semiconductor systems, medical, multimedia, enterprise computing and storage, automotive, optical/RF and clean technology sectors. Sanmina-SCI has facilities strategically located in key regions throughout the world. More information regarding the company is available at http://www.sanmina-sci.com.
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.
Source: Satcon Technology Corporation
Satcon Technology Corporation
Michael Levi, 949-201-5955
Leah Gibson, 617-910-5515