Satcon Technology Corp.: Significant International Growth
Energy 21 is one of Europe’s largest private power utilities and specializes in renewable energy production, with a focus on the construction and operation of large scale solar plants in the Czech Republic and Slovakia. CE Solar, the project development arm of Energy 21, will deliver and maintain the solar PV plants beginning in October 2008 with completion in spring 2009.
“Our goal is to create long-term investment opportunities for our clients by providing clean, reliable energy in a profitable way,” said Gary Mazzotti, CEO of Energy 21. “That requires technology partners who can deliver the quality and scale that our large renewable energy projects demand. We chose Satcon because we believe they offer the best in class solutions for utility scale distributed power generation that will ultimately increase our return on investment from these systems.”
Satcon’s optimized Edge™ Maximum Power Point Tracking (MPPT) solution is a key component in a renewable energy system’s long-term return on investment. All 500 kW PowerGate Plus inverters include Satcon’s next generation Edge™ MPPT, enabling utility scale projects like these by Energy 21 to maximize power production and significantly increase the overall efficiency of each system.
“Energy 21 is a progressive leader in the European utility market,” said Steve Rhoades, Satcon’s President and Chief Executive Officer. “We are proud to have been chosen as a strategic partner in their continually innovative, utility scale, renewable energy resource development.”
Satcon Technology Corporation (NASDAQ CM: SATC) is a leading provider of utility scale distributed power solutions for the renewable energy market, enabling the industry’s most advanced, reliable and proven clean energy alternatives. For over 22 years, Satcon has designed and delivered the next generation of efficient energy systems for solar photovoltaic, stationary fuel cells, wind-turbines, and energy storage systems. To learn more about Satcon, please visit www.Satcon.com.
About Energy 21
Energy 21 is an energetic group specializing in the usage of renewable resources of energy. At present, it focuses on construction and operation of solar power plants, research and development is in progress in fields of other resources. Energy 21 owns and runs the biggest solar power plants in the Czech Republic; in Jaroslavice and in Hrádek. By the end of 2008, Energy 21 plans to carry out projects of approximate size of 10MW in the locality of Southern Bohemia and Moravia. Czech and foreign investment groups and bank institutes participate on the realization of the projects. For its projects, the company chooses entirely sites which have no other effective utilization at the time. Brownfields are a priority. Starting next year the company also plans to move towards roofing systems in its solar projects. Today, Energy 21 is active in the Czech Republic and Slovakia and in the perspective of one year prepares expansion abroad into Bulgaria and Israel.
Satcon Technology Corporation
Leah Gibson, 617-897-2400
Source: Satcon Technology Corporation