Partners with CIRO and Lord Electric for the Largest Ground Mounted Solar PV Plant in the United States.

BOSTON, (BUSINESS WIRE) — Satcon Technology Corporation(R)(NASDAQ CM: SATC), a leading provider of utility-grade power conversion solutions for the renewable energy market, today announced that Solstice(R) has been selected for the 63 megawatt (MW) CIRO One Solar PV Plant in the U.S. Commonwealth of Puerto Rico.

Advertisement

CIRO One will utilize 126 Satcon Solstice 500 kilowatt (kW) solutions, the industry’s first complete power-harvesting and array management solution for large-scale commercial and utility-scale solar power plants. The solar power plant is situated on 180 acres within the Lapas District of Salinas and is projected to generate 116 million kilowatt hours of energy, equating to 201,000 barrels of oil saved every year.

“The CIRO One Solar PV plant installation is one of the largest and most advanced in the world,” said Ruben Perez, President of the CIRO Group of San Juan. “The project presented us with significant challenges that required us to leverage the most advanced technologies available. The size of the installation combined with the uneven terrain at various elevations presented us with system design constraints, necessitating the flexibility that Satcon Solstice delivers. Satcon has provided us with the technologies and system-wide expertise that has helped us to make renewable energy resources a significant component of the Puerto Rican electricity grid, helping us to achieve a higher degree of energy independence and alleviating the Commonwealth’s dependence on crude oil.”

Introduced in late 2009, Satcon Solstice leverages string level power conversion and energy harvest optimization that is integrated as a complete system with a highly optimized centralized inverter. Solstice increases the overall energy yield of solar installations by 5-12 percent while simultaneously reducing the other balance of system material costs by 20-25 percent compared to a centralized inverter system.

“The CIRO One Solar PV plant is a significant accomplishment in both its size and sophistication,” said Steve Rhoades, Satcon’s President and Chief Executive Officer. “The value of Satcon Solstice is in its ability to take very large installations, like CIRO’s, and to divide them up into less than 3 kilowatt (kW) increments, which enables tailored design flexibility to address the variable geographical constraints and the challenges associated with such terrain, generating significant performance improvements through fine-grained energy harvest. The result is a highly optimized utility-scale power plant that has higher reliability and higher power production levels, all of which can be viewed and controlled by the utility just as they manage all other power plant assets on their grid network.”

CIRO One will begin construction in October of 2010.

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 25 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 http://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 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.

SOURCE: Satcon Technology Corporation

Satcon Technology Corporation
Senior Director of Worldwide Marketing
Michael Levi, 949-201-5955
michael.levi@satcon.com
or
Investor Relations Manager
Leah Gibson, 617-897-2400
Leah.Gibson@satcon.com

Announcement from our Chairman, David C BarclayThe World Renewable Energy Association are delighted to announce the launch of a brand-new initiative exclusively for its members. The Renewable Energy Finance Hub has been launched following the largest survey undertaken with UK businesses conducted by WoREA in conjunction with the UK Government and its partners. Reduce your businesses carbon footprint today and begin your journey towards net zero!