Xantrex Technology Inc. has signed a contract with SOLON AG to supply solar grid-tie inverters for the European, North American and Australian markets. Xantrex expects to ship approximately two-thirds of the contract value in the first half of 2008, and SOLON has the option to increase the size of the contract in the second half of the year.
‘Xantrex welcomes this new $12 million agreement with SOLON, which reflects an increase of 60 percent from the $7.5 million 2007 contract," says Mossadiq S. Umedaly, Xantrex's chairman." This is an expression of continued confidence in our products and service, and a further opportunity to supply our leading solar grid-tie inverters in the fast-growing solar markets."
The Xantrex solar grid-tie inverters are installed on the base of SOLON's dual-axis solar photovoltaic tracking system, called the SOLON Mover, which tracks the position of the sun. The inverters contribute to the power generation capability of the SOLON Mover by efficiently converting direct current power from solar panels into alternating current power for sale to the electricity grid.