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Satcon Selected by Southern California Edison for Solar Photovoltaic Program

2010-06-09 14:06
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Company Awarded 75 Percent of the Utility’s 250 Megawatts of Large Scale Solar Projects

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 Southern California Edison to supply inverters for at least 75 percent of its Solar Photovoltaic Program (SPVP) Project.

As part of the SPVP program, Southern California Edison plans to install, own and operate up to 250 megawatts of solar generating capacity over the next five years, 75 megawatts of which are in immediate development. These installations will be constructed mainly on large commercial rooftops and some on open parcels of land, with most sites ranging from 1 to 3 megawatts of generation capacity in size. Another 250 megawatts of large rooftop solar PV will be installed and operated by independent power producers with the power output being provided to SCE’s customers.

SCE has selected Satcon’s™ PowerGate® Plus 500 kilowatt solution, the world’s most widely deployed utility ready solar PV inverter. 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.

“The SPVP program is an important step in California’s clean-energy future,” said Mark Nelson, SCE director, Generation Planning & Strategy, Southern California Edison. “Satcon is a leader in utility-scale solar. We appreciate the company’s approach to complex challenges, and we look forward to working with them on this industry-leading project.”

SCE’s SPVP is targeted at the vast untapped resource of commercial and industrial rooftop space in Edison’s service territory. The SPVP will aggressively bridge the gap between small- and large-scale solar installations. The solar power plants will be directly connected to Edison’s grid as wholesale generation and will therefore not require additional construction of transmission facilities.

“We are honored to be selected by Southern California Edison as their inverter of choice for the SPVP program,” said Steve Rhoades, Satcon’s President and Chief Executive Officer. “The projects mark the beginning of a new and significant chapter in both the solar and the utility industries.”

“These installations will be the blueprint for utilities and large scale solar plant owners and operators, demonstrating rapid, cost effective and reliable integration of grid interconnected distributed solar power generation onto the local and national grid networks,” continued Rhoades. “We are excited to be a part of this world class team of energy innovators driving the next generation of utility scale solar.”

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 24 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 Southern California Edison

An Edison International (NYSE:EIX) company, Southern California Edison is one of the nation's largest electric utilities, serving a population of nearly 14 million via 4.9 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.

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.

© 2010 Satcon Technology Corporation. All rights reserved. Satcon is a trademark of Satcon Technology Corporation. All other trademarks are the property of their respective owners.

Contacts

Satcon Technology Corporation
Michael Levi, 949-201-5955
Senior Director of Worldwide Marketing
michael.levi@satcon.com
or
Southern California Edison
Vanessa McGrady, 626-302-2255
Media Relations
vanessa.mcgrady@sce.com