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Company’s Solaron® and PV Powered™ PV Inverters Selected to Maximize Energy Harvest
FORT COLLINS, Colo., Feb. 27, 2012
—Advanced Energy Industries, Inc. (Nasdaq:AEIS), today announced that its inverters have been selected to power six projects in Ontario, Canada. The projects were awarded to Advanced Energy (AE) Solar Energy by Moose Power, one of Ontario's leading solar development companies and will produce more than three megawatts (MW) of clean renewable energy. AE Solar Energy’s photovoltaic (PV) inverters were selected for these projects based on the company’s reputation for high-performance and outstanding service.
“AE Solar Energy has provided excellent service and delivered products on-time that offer superior performance,” said Andrew Knapp, managing director at Moose Power. “We look forward to working together on future projects as we continue to build our project pipeline and provide customers with unparalleled results.”
All six projects are supported by the Ontario Power Authority's (OPA) Feed-in-Tariff (FIT) program. Under this program, the OPA purchases the solar electricity produced for a fixed rate over a 20 year term. To complete the projects Moose Power worked with Advanced Green Technologies (AGT) and Nautilus Solar Energy, LLC (Nautilus Solar), whose strong understanding of the project development cycle and ability to move projects forward matched well with AE Solar Energy’s technical expertise.
“AE is thrilled to be working with Moose Power and its partners to provide products tailored for the Ontario solar market,” said Gordon Tredger, executive vice president for AE Solar Energy. “Moose Power’s local FIT program expertise and strong presence in Ontario combined with our technical expertise creates a partnership that we look forward to growing.”
The projects will leverage AE’s industry-leading utility-scale Solaron 500 inverters and PVP250kW commercial inverters. By utilizing AE’s complimentary product lines Moose Power was able to match the inverters best suited to each project’s specific needs.
AE’s solar energy business delivers highly reliable inverters, complimentary Balance of System (BoS) products, and robust Operations and Maintenance (O&M) services that allow its customers to secure more solar projects and increase their earnings. AE Solar Energy enables utility scale, commercial, and residential solar project stakeholders to offer system owners a lower Levelized Cost of Energy (LCOE) and improved peace of mind that their PV system will deliver on long-term production goals. With more than 30 years of leadership in innovation and in delivering energy solutions, combined with a legendary reputation for customer service, AE has become a trusted partner to solar project developers, financiers and beneficiaries around the globe.
About Advanced Energy
Advanced Energy (Nasdaq:AEIS) is a global leader in reliable power conversion solutions used in thin-film plasma manufacturing and solar energy 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.