Solar

Xantrex Awarded $12 Million Contract From SOLON

Xantrex Technology Inc. announced that it has signed a contract with SOLON AG, valued at approximately $12 million, 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.

The Xantrex solar grid-tie inverters are installed on the base of SOLON’s dual-axis solar photovoltaic (PV) tracking system called the SOLON Mover, which tracks the position of the sun.  SOLON has the option to increase the size of the contract in the second half of the year.

“The success in the marketplace of the SOLON Mover dual-axis tracking system equipped with Xantrex’s customized premium inverter technology has enabled Xantrex to penetrate new markets and build upon our mutually beneficial partnership with SOLON. We are committed to expanding this successful relationship in the months ahead,” said John Wallace CEO of Xantrex.