This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Satcon, Great Wall Computer Announce Strategic Sales And Manufacturing Partnership To Expand Satcon’s Leadership Position In China’s Utility Scale Solar Market

Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today announced a partnership with Great Wall Computer Company Limited (GWPC), a majority-owned subsidiary of China Electronics Corporation (CEC). The partnership will position Satcon to capitalize on the estimated 14GW of utility scale projects under development, fueled by the country’s Feed-In Tariff program. Of the 14GW of identified non-residential solar projects in development in China today, the majority are expected to be developed by China State Owned Entities.

The partnership, which includes a five-year contract manufacturing agreement and a sales, marketing and distribution relationship, supports Satcon’s strategic plan to continue to deliver its industry-leading utility scale inverter technologies at the industry’s lowest possible cost though a world-class manufacturing and supply chain operation and localized access to the Chinese large scale solar market. GWPC is one the world’s largest electronics contract manufacturers and is publicly traded on the China Stock Exchange (Code: 000066). CEC, a Fortune Global 500 company, is China’s largest technology firm and one of 53 China State Owned Entities.

“As the worldwide solar market continues to develop, the focus on both inverter performance and costs have intensified,” said Steve Rhoades, Chief Executive Officer of Satcon Technology Corporation. “The Great Wall partnership significantly strengthens our company, accelerates our cost reduction efforts and opens up a sizeable opportunity above and beyond our recent success in the China market.”

“Great Wall is highly committed to the promise of solar PV as a source of clean renewable energy,” said Mr. Zhou Gengshen, GWPC’s CEO. “Satcon is the world’s leading brand in utility-scale solar technologies and this agreement creates a strong, integrated global alliance that will deliver advanced technologies at a cost that makes solar a viable energy source now and for years to come.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs