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Advanced Energy Announces Utility-Scale PV Inverter With 99% Efficiency at Intersolar Europe
USA’s Market Share Leader to Announce New Solaron® 500E HE Inverters; Company to Highlight Recent Milestone Achievements in Europe and North America
Munich, Germany—INTERSOLAR EUROPE 2001—June 8, 2011—Advanced Energy Industries, Inc. (Nasdaq: AEIS), today unveiled its focus for the upcoming Intersolar Europe event taking place in Munich, Germany from June 8 - June 10, 2011. Advanced Energy (AE) will announce recently introduced inverter product solutions, services, and projects in Europe and North America with a special emphasis on large solar PV deployments for commercial and utility customers. Specifically, the company plans to highlight the following:
- Products—Advanced Energy will announce the Solaron® 500E HE. The 500E HE has a 99 percent peak efficiency and a 98.7 percent EU weighted efficiency. The 99 percent peak efficiency rating is .3 to 2.5 percent higher than any inverter in this power class, a testament that AE’s technical leadership and innovation has led to continuously increasing efficiency.
- Services—Advanced Energy will highlight SiteGuard, its whole-site operations and maintenance service plans for large scale installations, which help lower levelized cost of energy (LCOE) and simplify site maintenance while reducing the inconveniences and inefficiencies of working with multiple service providers.
- Projects—Advanced Energy will detail some of its recent large project wins which have helped it become the leader in market share growth in PV inverter sales in North America.
“All of the solar project stakeholders we deal with—from system customers to investors—require solar products that offer high performance and an outstanding long-term value,” said Michal Gartner, co-founder of Photon Energy, a European based downstream integrated PV company. “Advanced Energy’s inverters fit these needs by offering industry-best reliability and efficiency, allowing PV installations to generate more energy over the lifetime of a system. We look forward to exploring more project opportunities with Advanced Energy globally.”
After entering the solar PV inverter market in 2007, Advanced Energy’s acquisition of PV Powered in 2010 furthered its penetration into the high-growth renewables market. The company’s success in 2010 was due to its leadership position and dominant market share in the commercial inverter market in North America. According to IMS Research, Advanced Energy was one of the top market share gainers in 2010 in the global solar PV inverter market. “Advanced Energy was the third highest market share gainer in the global inverter market last year, and is well-positioned to capture opportunities in 2011 based on the high-growth forecast for the North American solar market,” said Ash Sharma, photovoltaics research director at IMS Research.
Building on the dominant position in the commercial inverter market in 2010, the company’s momentum is now growing within the utility market in 2011. In early May, the company announced that its inverters would power a 150MW project located in Arizona and another project totaling 35MWs with Cupertino Electric. The Arizona project was awarded to Advanced Energy by Zachry Industrial, Inc., a leading U.S. EPC provider. Advanced Energy Solaron PV inverters were selected for the project after a rigorous competitive bidding process. The Zachary project utilizes the Solaron 500kW inverters configured as 2MW PowerStation™ solutions and the project site is supported by Advanced Energy’s SafeGuard Plus inverter uptime program.
“Europe has long been the leader in solar PV adoption, leading to more sophisticated buyers, developers and project financiers who understand the realities around bankability and LCOE, and the importance of innovation in driving the industry forward,” said Gregg Patterson, executive vice president and general manager of Advanced Energy Renewables. “This makes the region a fertile opportunity for Advanced Energy’s products and services that deliver industry-best efficiencies and performance, leading to improved LCOE for system owners and a higher internal rate of return (IRR) for project investors. With systems installed or in development in Germany, Italy, Czech Republic, Belgium, and the UK, we’re excited to be bringing additional products and services to our European partners and to develop more projects in the future.”
The company’s renewables business is driving the adoption of solar by lowering the LCOE for its customers. By providing reliable, easy-to-install Solaron® and PV Powered™ inverters and SiteGuard® whole-site O&M services, AE enables utility-scale, commercial, and residential solar project developers to maximize the lifetime value of their power plants. Customers count on AE as a trusted partner leveraging 30 years of innovation leadership and global services infrastructure for optimum project performance. For more information on Advanced Energy’s inverter solutions, please visit www.advanced-energy.com/renewables.
About Advanced Energy
Advanced Energy (Nasdaq: AEIS) is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Founded in 1981, Advanced Energy is headquartered in Fort Collins, Colorado with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.