Renewable Energy Stock News; Satcon (NASDAQ CM: SATC), Receives 150MW Order from GCL Solar Limited for Installations in China

Renewable Energy Stock News; Satcon (NASDAQ CM: SATC), Receives 150MW Order from GCL Solar Limited for Installations in China

Companies Expand Global Partnership on Landmark Deal for 300 of Satcon’s Industry-Leading 500kW Utility Inverters to be Delivered Between April and October of 2010

BOSTON--(Investorideas.com renewable energy/ green newswire )--Satcon Technology Corporation (NASDAQ CM: SATC), a leading provider of utility scale power solutions for the renewable energy market, today announced an order for 150 megawatts of its 500kW solar PV inverters from GCL Solar Limited, one of China’s largest utility solar power plant developers and suppliers. This deal marks the second phase of Satcon’s partnership with GCL that was established in 2009, linking two of the industry’s most innovative renewable energy suppliers and developers.

“The foundation of China’s large scale photovoltaic industry has been firmly established over the past year and the market is now entering its next phase in both project sophistication and scale”
.Satcon will begin supplying the inverters in April, with all deliveries scheduled for completion in October of 2010. Satcon’s 500kW units will be used on multiple utility scale projects across China and will build on the already successful collaboration between the two companies, which includes the 3MW and 20MW power plants completed in December of 2009, China’s largest rooftop and ground mounted installations respectively.

“The foundation of China’s large scale photovoltaic industry has been firmly established over the past year and the market is now entering its next phase in both project sophistication and scale,” said Dr. Gu Huamin, General Manager of GCL Solar Limited. “As we move forward the balance between technology innovation, system stability, and overall system efficiency becomes paramount to the successful integration of solar power onto China’s national grid.”

“GCL is one of the world’s most progressive large scale solar innovators,” said Steve Rhoades, Satcon’s President and Chief Executive Officer. “Their projects have set the new standard in utility scale solar design and installation, and mark a new chapter in the global solar PV power industry. We are honored to partner with GCL and be a part of this world class team of solar power leaders.”

“Our partnership with Satcon has helped us deliver many of China’s largest installations each successfully achieving the highest levels of performance and reliability,” continued Dr. Gu Huamin. “Satcon is a trusted partner of GCL and continues to deliver the world’s most advanced and highest quality utility scale solar inverter solutions. We look forward to working closely with Satcon to address the needs of the global utility scale solar market as we continue to build on the successful foundation we have developed together.”

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 GCL Solar Limited

GCL Solar Limited, part of the GCL Group, is located in Nanjing China and covers an area of more than 330 thousand square meter of PV base. The company has established business academicians’ workstations and post-doctoral research station. GCL Solar has a complete professional engineering and technical personnel of more than 300 people that has project implementation experience with strong solar technology of research and development, engineering design, equipment manufacturing, systems integration and turn-key project of PV power plant.

GCL Solar Limited specializes in consulting, design, system integration and total project contracting services of all kinds of solar system, such as medium and large sized of on--grid solar power plants, small--scale off--grid power PV systems, PV/wind power hybrid generating system, BIPV, BAPV rooftop systems engineering project and so on. The company has successful completed the largest PV power plant (20MW) on the ground and the largest BAPV (3MW) project in China that is guided by General Manager Dr. Gu Huamin since 2009.

To learn more about GCL Solar limited, please visit www.gcl-eng.com or www.gcl-solar.cn

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 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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