Company’s PowerGate Plus Solutions Selected for the Largest Privately Developed Solar Projects in the Country to Date
Contact: Mark Weinswig Chief Financial Officer (505) 332-5000 investor@emcore.com TTC Group Victor Allgeier (646) 290-6400 vic@ttcominc.comBOSTON -- 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.“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.”The disadvantage of using wind generators for sale in a grid tie system is not having a backup system in the event of a power outage. Without a battery backup you only have what the wind generator for sale will produce. There also is some red tape to go through before any utility will approve a grid tie system.About SatconA wind generator for sale can be used in three basic ways, stand alone, utility grid tie, and wind solar combination. We will discuss the pros and cons of each, starting with the stand alone system.Safe HarborThe advantage of this type system is not having the initial investment in batteries or having a budget for battery replacement and maintenance. Also if your produce more energy than you use, you can sell it back to the utility.Another use of wind generators for sale is the grid tie system. This system consists of wind power generators coupled with grid tie inverters that enable them to be tied directly into the utility power grid.
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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