Satcon Technology: Largest Urban Solar Power Plant in the USA
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 for the 10-megawatt Exelon City Solar photovoltaic (PV) power plant, the nation's largest urban solar power plant, which will be built at a former industrial site in the West Pullman neighborhood on Chicago's South Side. The site, owned and operated by Exelon Generation, was designed and is being constructed by SunPower Corp., a manufacturer of high-efficiency solar cells, solar panels and solar systems.
The 41-acre solar facility will utilize Satcon Prism™, a fully customizable one megawatt medium voltage package complete with factory integrated step-up transformers, switchgear, and electronics. The Prism solutions will connect nearly 32,300 SunPower solar panels to the local utility and efficiently convert the sun's rays into enough clean, reliable electricity to meet the annual energy requirements of up to 1,500 homes per year.
“The Exelon City Solar project demonstrates solar power’s integration as a stable and viable core contributor into one of the country’s largest energy markets,” said Howard Wenger, president, global business unit at SunPower. “This project is a clear example of the unique demands of large scale solar power generation, and required that we design a system that is comprised of the industry’s highest performing and most reliable components. Satcon’s experience and expertise in large scale solar made them the natural choice for us.”
The Exelon City Solar plant will combine Satcon’s Prism solution, designed to deliver the highest levels of energy harvesting, efficiency and system uptime, with SunPower panels, which generate up to 50 percent more power than conventional solar panels and two to four times as much power as thin-film solar technology. The site will also use SunPower® Trackers, solar tracking systems that tilt toward the sun as it moves across the sky, increasing daily energy production by up to 25 percent.
Satcon Prism is built on the foundation of the industry standard setting PowerGate(R) Plus 500kW solar PV inverter platform, the most advanced and field proven large scale inverter solution, with over 400 megawatts delivered since 2005. The solution is delivered complete in an all-climate outdoor enclosure and ready to connect to the PV array and utility grid, enabling rapid installation through a modular prepackaged design.
“We are honored to be chosen as a key partner by SunPower to deliver our Prism solutions to Exelon City Solar," said Steve Rhoades, Satcon’s President and Chief Executive Officer. “Satcon’s solutions have been used on some of the largest renewable energy sites in the world with hundreds of millions of grid connect kW hours delivered to date. Exelon City Solar showcases today’s best in class total system solutions, optimally designed to deliver the highest levels of reliable large scale solar power production.”
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, wind-turbines, and energy storage systems. To learn more about Satcon, please visit www.Satcon.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.
Satcon Technology Corporation
Leah Gibson, 617-897-2400
Investor Relations Manager