Xantrex Technology Inc. (TSX:XTX) has received an order from ProSol Financiera S.A. valued at approximately US $2.5 million. The order is for Xantrex’s grid tie commercial inverters for a project to build a solar power plant in Spain.
“We are delighted to be chosen to supply our commercial solar inverters for ProSol’s project,” said Mossadiq S. Umedaly, Xantrex’s Chairman. “ProSol is an important new European customer that we have added this year, positioning us for growth in this market.”
ProSol Financiera S.A. is financing the development of this 8 megawatt (MW) solar power plant located in Moclinego, Spain. The project is expected to be completed by March 2007. The first shipment of Xantrex inverters will begin this month with final deliveries under this purchase order to be completed by year-end.
“Our continued success in the European solar market demonstrates the quality, reliability and value of our products,” said Xantrex CEO John Wallace. “Xantrex inverters are field proven, efficient and reliable, offering system integrators and owners an excellent return on their solar power investment. We are focused on becoming a supplier of choice in the European solar market, as we are in the North American market, by delivering outstanding products, reducing installed cost, and providing industry leading after-sale support.”
Anton Hotz, General Director of ProSol Financiera, S.A., said “We chose Xantrex inverters because of the company’s industry experience worldwide, its high quality, reliable and efficient products. The use of Xantrex inverters in this project is expected to enhance our efforts in implementing clean and renewable solar energy.”
Xantrex’s solar grid tie inverters meet both the CE and Spain’s RD 1663/2000 requirements. The Xantrex inverters efficiently convert direct current power from solar panels into high-quality alternating current electricity for delivery to the grid.
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