Advanced Energy’s solar inverters to be used on major US projects: sales up in first quarter

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A massive 150MW PV project to be built in Arizona by Zachry Industrial will use Advanced Energy Industries (AE) ‘Solaron’ PV inverters and its ‘SafeGuard’ service program. The project would be one of the largest of its kind so far built in the US and is slated to begin construction in mid-2011 with completion in 2013. AE is also to be the inverter supplier at a 35MW project in California with Cupertino Electric.

“We are very excited about our announcement today that our inverters have been chosen for two major Utility projects: a 150MW project with Zachry in Arizona and a 35MW project in California with Cupertino Electric, demonstrating the differentiated reliability and efficiency of our inverters and the subsequent impact on the levelized cost of energy. We are seeing a growing number of larger, Utility scale projects as the solar market continues its expansion,” said Dr. Hans Betz, chief executive officer.

AE noted that the project would utilize the Solaron 500kW inverters, which would be configured as 2MW ‘PowerStation’ solutions.

AE also announced first quarter results, which highlighted the traction the firm has achieved in the utility-scale PV inverter market over the last year. The company reported total revenue of $137.7 million was split between Thin Films at US$100.1 million and US$37.6 million in the Renewables Business Unit.

In the same period a year ago, AE had sales in its Renewables Business Unit of US$2.3 million. The company had record bookings in this business segment in the quarter and expects second quarter revenue to be in the range of US$148 million to US$160 million.

Bookings for the first quarter were US$184.0 million, compared to US$83.2 million in the first quarter of 2010.
 

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