BOSTON, Apr 27, 2011 --

Satcon Technology Corporation(R) (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today announced its results for the first quarter ended March 31, 2011.

Three Months Ended(in millions except margin data)

Revenue for the first quarter of 2011 was $62.0 million, an increase of 321% over the same period last year. North America continued to be the company's strongest performing region, representing 76% of total sales. Asia contributed 22% of sales, while Europe represented 2%. During the first quarter, the company shipped 276.5 MWs of its industry-leading PowerGate(R) Plus, Prism(R), and Solstice(R) solutions. Satcon's utility scale solutions, of 250kW and above, continued to be the company's strongest performing offering, shipping over 240 MW, and representing 87% of total units shipped in the quarter.

"Our performance in the first quarter of 2011 reflected continued demand for our utility scale solar PV systems in both North America and Asia, where Satcon continues to be the market leader," said Steve Rhoades, Satcon's President and Chief Executive Officer. "At the same time, our European business was weaker than we expected due to the uncertainty around government policies for renewable energy in several European countries."

Bookings for the first quarter of 2011 totaled $35.5 million. This represents 132 MW of orders for Satcon's solutions, with 77% of that demand coming from North America, 20% from Asia Pacific and 3% from Europe.

At March 31, 2011, the company's backlog, which consists of purchase orders from its customers, was $72.2 million. Backlog from North America represented 78.5% of orders to be delivered. Asia contributed 14.7%, while Europe contributed 6.8%.

"We continue to see increasing demand for our utility scale PV inverter solutions in North America and Asia," said Rhoades. "For the second quarter of 2011 we believe the markets in North America and Asia will remain strong and that Germany and Italy will define their long-term FIT strategies. We expect Q2 revenue to be in the range of $50 to $60 million."