For more information, contact:
Fort Collins, Colo., April 21, 2015—Advanced Energy Industries, Inc. (Nasdaq:AEIS), a leader in precision power conversion solutions, today announced that it has been awarded 325 MW of solar projects by Swinerton Renewable Energy. The installation and commissioning of the portfolio of projects is expected to begin in 2015 and continue through the middle to end of 2016.
Senior Vice President
Global Sales, Marketing and Service
Advanced Energy Industries, Inc.
As one of the largest solar contractors in the nation and the top solar contractor in California, Swinerton Renewable Energy specializes in installing utility-scale solar projects throughout North America.
“After evaluating the inverter market, we determined that the Advanced Energy 1000NX inverter will allow us to maximize our solar energy production while reducing balance of system and construction costs,” said George Hershman, VP and division manager for Swinerton Renewable Energy.
The AE 1000NX inverter delivers a 98 percent weighted efficiency rated by the California Energy Commission (CEC) and 98.1 percent peak efficiency. The inverter's self-contained, closed-loop air-to-liquid cooling system and component selection offer maximum rated power at desert temperatures, along with significant balance of system savings from the unique +/-1000VDC topology. With a full complement of utility controls, the AE 1000NX also ensures reliable integration of renewable energy into the power system.
“Advanced Energy's market-leading experience with large solar projects, along with the advanced capabilities of our proven NX product line, makes this inverter the ideal choice for Swinerton’s portfolio of utility-scale projects,” said Yuval Wasserman, president and chief executive officer of Advanced Energy.
About Advanced Energy
Advanced Energy (Nasdaq:AEIS) is a global leader in innovative power and control technologies for high-growth, precision power conversion solutions. 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
About Swinerton Renewable Energy
Swinerton Renewable Energy offers engineering, procurement, construction, and SOLV® services for solar photovoltaic plants throughout North America to a diverse range of clients. Over 125 years of building landmark projects, Swinerton has forged a reputation for unsurpassed safety, workmanship, on-time delivery and customer satisfaction. Today, our team takes pride in building cost-effective solar systems that will generate reliable, clean power for many years to come. SRE has delivered over 800 MW solar projects and our SOLV team manages over 1 GW of PV plants. For more information, visit http://www.swinerton.com/markets/renewable-energy
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934 that involve a number of risks and uncertainties. Such forward-looking statements include statements which may be preceded by the words "plan," "will," "expect," "believe," or similar words. Other risks are described in Advanced Energy's Form 10-K, Forms 10-Q and other reports and statements filed with the Securities and Exchange Commission. These reports and statements are available on the SEC's website at www.sec.gov. Copies may also be obtained from Advanced Energy's website at www.advancedenergy.com or by contacting Advanced Energy's investor relations at 970-407-6555. Forward-looking statements are made and based on information available to the company on the date of this press release. The company assumes no obligation to update the information in this press release.