Tuesday, March 12, 2013

Upsolar’s Smart Modules Selected by Pristine Sun for 10 MW Deal

SAN FRANCISCO--(BUSINESS WIRE)--Upsolar, a leading international provider of solar PV modules, today announced the company has been selected by Pristine Sun to supply a minimum of 10 MW of its Smart Modules for solar farms in California. This agreement highlights the growing interest in truly integrated Smart Modules.

Upsolar Smart Modules combine the company’s high-quality, high-performance PV modules with Tigo Energy’s optimized power electronics, which are integrated into the module’s junction box. Benefits of Smart Modules include:

    Up to 30 percent more modules per string reducing BOS costs
    Increased system production
    Enhanced module-level monitoring
    Improved safety, fire arc fault and theft prevention

“We are pleased to have selected Upsolar modules for at least 10 MW of our California portfolio of small utility projects. The combination of Upsolar’s bankability, payment terms and product and performance warranties made the company an unbeatable candidate for our utility-scale portfolio,” said Troy Helming, CEO of Pristine Sun. “In addition to excelling in these areas and most importantly, as long-term owners and operators of our projects, Upsolar's quality and performance stood out. Our funding partners agree, so it is likely we will add to our commitment moving forward.”

Pristine Sun Chief Operating Officer Jason Jackson added, “Upsolar’s Smart Modules mitigate performance challenges related to everyday occurrences like soiling, shading, module mismatch and temperature differentials, while increasing power harvest in every module. The performance data offered through Smart Modules is a nice bonus as well.”

Project construction has begun on Pristine Sun’s 50 MW portfolio of utility-scale PV projects in California. The electricity generated by the projects will be sold to the Pacific Gas and Electric Company (PG&E).

“Pristine Sun’s pipeline of projects in California is truly impressive, and we’re pleased to have the opportunity to work together on these projects,” said Reed Richerson, National Key Account Manager for Upsolar America. “It is especially gratifying to see our Smart Module product adopted by high-quality organizations like Pristine Sun and their partners.”

About Upsolar

Upsolar develops and produces high quality solar PV modules at competitive prices, offering a secure long-term investment for customers around the world. Bolstered by a commitment to product R&D and support from its flexible manufacturing platforms, Upsolar ensures top-tier performance and reliability while maintaining an asset light approach to its business. All Upsolar products are backed by industry-leading product and performance guarantees to ensure superior performance over the lifetime of each system. Upsolar also champions environmental sustainability through key sponsorships and environmental initiatives. To learn more about Upsolar, its products or its sustainability efforts, please visit www.upsolar.com.

About Pristine Sun, LLC

Pristine Sun, the leading developer of small utility scale projects in California, is a professional full service renewable energy company with a goal to become one of the most respected solar developers in America. Pristine Sun's core management team has an average of 10-16 years of experience each in the development and finance of solar and wind projects with a combined total of over $2 billion. Pristine Sun, originally backed by a $24 billion private equity fund, has a 2 GW solar pipeline with 750 MW of projects under active development, is headquartered in San Francisco, CA. Pristine's business model is simple: we are proficient at acquiring site leases and 20 year Power Purchase Agreements for financeable solar and wind Utility and Behind the Meter projects. We then develop the sites, underwrite, procure financing, construct and operate these low risk projects.

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