- Introduced its Equinox LC line of inverters for the light commercial solar market. The new LC product line will include four UL certified power ratings at 12kW, 16kW, 20kW and 24kW, and five CE certified power ratings at 8kW, 10kW, 13kW, 17kW and 20kW. The design provides a bi-polar, transformerless architecture incorporating the same system intelligence and advanced command and control capabilities that have made Satcon’s inverters the leader in the utility solar PV market. Satcon has installed over two gigawatts of its utility-scale inverter solutions worldwide in the last four years.
- Entered into a strategic sales and manufacturing partnership with Great Wall Computer Company, a majority-owned subsidiary of state-owned China Electronic Corporation. The non-exclusive five-year agreement positions Satcon to capitalize on the country’s estimated 14GW of utility-scale projects that are under development. An initial purchase of 60MWs of Satcon inventory is expected to be delivered by April, and will help to reduce the company’s current inventory levels.
- Announced cost reduction initiatives as part of a strategic plan to improve the company’s financial performance and align its global workforce and operations infrastructure. The company expects annual cost savings of approximately $15-$17 million once all actions are implemented by Q2 2012.
Satcon® Reports Fourth Quarter And Full Year 2011 Financial Results
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