Satcon (NASDAQ CM: SATC), a leading provider of utility scale distributed power solutions for the renewable energy market, announced today its participation in the world´s largest rooftop solar photovoltaic power installation. The 12 megawatt (MW) system atop the General Motors car manufacturing facility in Figueruelas, Zaragoza Spain will cover approximately 2,000,000 square feet and has a surface area of 183,000 square meters.
The Zaragoza project brings together a team of the world´s leading photovoltaic solutions providers. The system will be designed and built by Clairvoyant Energy, Veolia Environnement and the Government of Aragon, and will utilize United Solar Ovonic´s thin film flexible solar laminates and Satcon´s PowerGate TM Plus 500kW Inverters. The electricity generated from this facility will be sold to Spain´s power utility, Endesa.
"The sheer scale of our Zaragoza project demanded that we closely evaluate each potential solution providers´ ability to deliver the combination of high efficiency, quality and reliability in our challenging environment," said John Abkemeier, President of Clairvoyant Energy. "We have assembled a team of best–of–breed solutions providers in order to deliver on our vision of reliable, efficient and clean energy production. Satcon has and will continue to play a central role in the success of this project."
"The GM project clearly demonstrates the global trend toward larger, utility scale installations," said Steve Rhoades, Satcon´s President and Chief Executive Officer. "As the largest rooftop system in the world, Zaragoza showcases the future of distributed power production. Satcon is honored to be a member of this world class team delivering on GM´s goal of producing reliable and efficient energy."
The PV system will be operational at the end of September 2008 and is comprised of roughly 85,000 thin film solar panels that will be connected to Satcon PowerGate TM Plus Inverters. Once fully operationally, the solar installation will generate 10 MW of peak power output and 15.1 million kilowatt hours of power annually.
About Satcon
Satcon Technology Corporation 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 Clairvoyant Energy
Clairvoyant Energy is a leader in solar photovoltaic project development and technology innovation having offices in Santa Barbara, California and Pedrola, Spain. Its executive and engineering team is complemented by its advisory team of Ernst & Young Renewables, Ernst & Young Abogados and HSH Nordbank, AG.
About General Motors
General Motors Corp. (NYSE: GM), the world´s largest automaker, has been the annual global industry sales leader for 77 years. Founded in 1908, GM today employs about 266,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 35 countries. In 2007, nearly 9.37 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM´s OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on GM can be found at www.gm.com.
About Veolia Environnement
Veolia Environnement, a world leader in environmental services, applies its technical and overall management expertise in the project´s engineering, construction, approval process phases, as well as system operations maintenance.
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.
