November 19, 2008

Boston, MA, USA: Satcon Signs Inverter Supply Agreement with Samsung

Satcon Technology Corporation , a provider of utility scale distributed power solutions for the renewable energy market, has entered into a three year, 180 megawatt agreement with Samsung C&T Corporation, Korea’s largest engineering, construction, trading and investment firm.

In addition to supplying Samsung with Satcon PowerGate™ Plus inverters for its own solar power plant development around the globe, this agreement provides Samsung the exclusive right to market and sell Satcon solutions in the rapidly growing Korean renewable energy market. As a certified member of the Satcon Global Service Partner Network, Samsung will also provide full maintenance and warranty service to all Satcon solutions in Korea.

“As Samsung’s role in the growing global renewable energy market expands, we continue to develop close partnerships with best in class technology partners like Satcon whose solutions deliver high value returns on many of the world’s largest and most advanced photovoltaic and fuel cell energy plants,” said K.D. Kim, President, Samsung America. “We have worked closely with Satcon on several utility scale solar projects, and we believe they provide the best quality and most reliable power conditioning solutions on the market.”

"The combination of Samsung’s strong commercial and service expertise coupled with Satcon’s industry leading solutions will deliver unparalleled value to the large scale renewable energy market,” said Steve Rhoades, Satcon’s President and Chief Executive Officer. “Together, the companies are committed to delivering the industry’s most efficient and reliable renewable energy production. Satcon looks forward to significant growth as a result of this partnership.”

SatCon says the advanced features offered in the PowerGate™ Plus products have established the company as the international standard for large commercial and utility-scale solar PV installations. With 11 PV inverter power ratings, ranging from 30 kilowatts to the recently announced 1 megawatt system, paired with its industry leading utility fuel cell inverter line, Satcon continues to deliver the most scalable and reliable solutions in today’s renewable energy market.

Further details about: SatCon and Samsung