As a result of the deal, which was concluded at the Ecotec trade fair in Athens, Kaco New Energy will exclusively supply Neon Energy's solar power projects with its Powador 50MW inverters in 2012. The two companies also signed corresponding framework agreement.

Kyriakos Doussakis, managing director of Neon Energy, said: “We have secured the supply of 50MW Powador inverters because we are very optimistic about the development of solar energy in Greece and we are impressed by the reliability of the devices and services provided by Kaco New Energy.”

As an EPC contractor, Neon Energy plans, constructs and finances solar power systems in Greece, Germany, Italy, Bulgaria and Cyprus. The company plans to build 100, 200 and 500 kW systems, with the installations divided into 100 kW units to simplify and accelerate the approval process.

Founded in 2010, the company has over 80MW of solar farm installations and almost 12MW of commercial rooftop installations online or under construction. The company is also active in the private rooftop system sector with 1.8 MW megawatts installed.

Based in Neckarsulm, Germany, Kaco New Energy has been producing inverters with a cumulative capacity of over four GW since 1999, and has had a subsidiary in Crete since 2006.

Manos Chatzidakis, Kaco New Energy’s branch manager in Heraklion, said: “Our Powador 30.0 TL3 inverters can be deployed very flexibly and are extremely reliable during operation. This makes them ideal for the type of projects that Neon Energy has in its portfolio.”