It’s been a good start to October for Satcon Technology (SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market. A week ago the company announced a 40MW deal with Q-Cells and this morning announced a 35MW deal with Borrego Solar. Borrego will utilize the entire suite of Satcon products for various projects which include military, commercial and utility installations over the course of the next year.
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The good news out of the green energy space has been few and far in between for many months now, but today Satcon Technology (SATC) which is a leader in utility scale solar power conversion solutions, was selected by Q-Cells North America to supply 40MW of their Prism Platform solution for the big Starwood project in Ontario.
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The company needed some good news. That stock has … Read the rest
Another solar company earnings report and the song remains the same. EPS hit with soft guidance due to European subsidy cuts. Satcon Technology (SATC) is issuing an earnings report right along the lines of other solar companies with revenues about inline with estimates at $46 million, but a with significant miss on the EPS side posting a loss of .18/share vs the estimate for a .12/share loss.
Satcon Technology (SATC) will be the solar inverter supplier for a 19.5MW solar project in Germany. They will supply 39 of their PowerGate 500kW which represents the largest German order for the company.
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“The Tauberlandpark project is one of Germany’s largest Utility-Scale solar power installations,” said Andreas Schneider, Chief Executive Officer of relatio Holding. “A project of this scale demands that we partner with an industry … Read the rest
Satcon Technologies (SATC) posted mixed earnings results this morning missing on the EPS side with a .02/share loss (vs analyst estimates of .01/share loss), but beating on the revenue side posting $58 million vs the analyst estimate of $52 million. Despite the small miss in EPS, it’s a big improvement over the year ago quarter when the company posted a .12/share loss. Revenues increased nearly 6 fold over the year ago quarter, so this remains … Read the rest
Satcon Technology (SATC) has issued preliminary 3rd quarter results this morning and expects revenues to be much better than expected, but doesn’t see that translating into a profit. The company now sees revenues in the range of $56 – $58 million vs the analyst consensus estimate of $45.6 million, but on the EPS side the company a 2-3 cent share loss vs the estimate of a one cent share loss. They are raising revenue guidance … Read the rest
Satcon Technology (SATC) is surging in pre-market trading on news the CIRO One 63MW solar plant to be built in Puerto Rico will use 126 of Satcon’s Solstice 500kW power harvesting and management solution. The technology increases the overall energy yield of solar installations by 5 – 12% and reduces system material costs by 20 – 25% compared to a centralized inverter system. Construction of the plant is expected to begin this month. No … Read the rest
Satcon Technology (SATC) reported a Q2 loss of $0.12, vs the analyst estimate of ($0.05) after the bell today. Revenue for the quarter was $27.6 million, vs the estimate of $26.8 million. That’s a record revenue number for the company, but it didn’t translate into profits. The company doesn’t expect profitability until 2011, but is rapidly moving there.
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Traders appear to be looking to the … Read the rest
GCL Solar Limited has just ordered 150 MW worth of 500kW solar PV inverters from Satcon Technology, according to a company announcement from Satcon. Satcon is scheduled to deliver the inverters in April through October of this year.
The two companies established a partnership in 2009 and have worked together on projects including China’s largest rooftop (MW) and largest ground-mounted (20MW) installations.
In a , Steve Rhoades, Satcon’s President and Chief Executive Officer, commented on … Read the rest