Xantrex Technology (TSX:XTX) received a US$16 million order for three of its solar grid-tie inverters for several projects in Spain and Germany.
The inverters were bought by Relatio MD, a German solar sales and marketing company.
Relatio, which develops products for photovoltaic (solar) power plants over one megawatt, plans to sell the inverters as part of its iBox, turn-key technology that integrates the inverter with a transformer and switch gear into a single outdoor enclosure.
Xantrex's GT100E and GT500E commercial grid-tie solar inverters convert direct current (DC) power from solar modules into alternating current (AC) electricity for delivery to the grid.
Xantrex's share price range during the past week: between $6.42 and $6.80; 52-week high: $13.19; 52-week low: $4.61.