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Universal Solar announces increased revenues
Universal Solar has announced a growth in revenues over the last 12 months. Solar-grade ingot wafer and high-efficiency photovoltaic module producer Universal Solar Technology has announced its financial results for the year ended December 31st 2009.
The company reported annual revenues of $691,713 (£454,854) for the 12-month period - up from $11,454 in 2008. However, it also delivered a net loss for 2009 of $421,562, compared to $346,993 in the previous year. “During the past year we have focused on building a new 71,280 sq m subsidiary facility in Nanyang City, Henan Province, raising capital to facilitate the continued development of our production capabilities and expanding new customers,” commented Universal Solar’s chief executive officer Wensheng Chen.
The company was incorporated in the state of Nevada in the US in 2007, but operates a range of subsidiaries in the People’s Republic of China (PRC). These are Kuong U Science & Technology - which is fully owned by the firm - and Nanyang Universal Solar Technology - which is fully foreign-owned under the laws of the PRC.
Satcon Receives 150MW Order from GCL Solar Limited
Companies Expand Global Partnership on Landmark Deal Satcon Technology Corporation, has announced an order for 150 megawatts of its 500kW solar PV inverters from GCL Solar Limited, one of China’s largest utility solar power plant developers and suppliers. This deal marks the second phase of Satcon’s partnership with GCL that was established in 2009, linking two of the industry’s most innovative renewable energy suppliers and developers.
Satcon will begin supplying the inverters in April, with all deliveries scheduled for completion in October of 2010. Satcon’s 500kW units will be used on multiple utility scale projects across China and will build on the already successful collaboration between the two companies, which includes the 3MW and 20MW power plants completed in December of 2009, China’s largest rooftop and ground mounted installations respectively.
“The foundation of China’s large scale photovoltaic industry has been firmly established over the past year and the market is now entering its next phase in both project sophistication and scale,” said Dr. Gu Huamin, General Manager of GCL Solar Limited. “As we move forward the balance between technology innovation, system stability, and overall system efficiency becomes paramount to the successful integration of solar power onto China’s national grid.”
“GCL is one of the world’s most progressive large scale solar innovators,” said Steve Rhoades, Satcon’s President and Chief Executive Officer. “Their projects have set the new standard in utility scale solar design and installation, and mark a new chapter in the global solar PV power industry. We are honored to partner with GCL and be a part of this world class team of solar power leaders.”
“Our partnership with Satcon has helped us deliver many of China’s largest installations each successfully achieving the highest levels of performance and reliability,” continued Dr. Gu Huamin. “Satcon is a trusted partner of GCL and continues to deliver the world’s most advanced and highest quality utility scale solar inverter solutions. We look forward to working closely with Satcon to address the needs of the global utility scale solar market as we continue to build on the successful foundation we have developed together.”
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