GREENVOLTS CPV GETS BIG BACKER

ABB invests in utility-scale concentrating photovoltaic solar power company; Strategic stake in US-based GreenVolts strengthens ABB’s focus on renewables
December 14, 2011 (ABB)

"ABB, the global power and automation technology group… has agreed to invest approximately $20 million as part of a $35 million financial round, for a substantial minority stake in California-based GreenVolts, a leading provider of turnkey concentrating photovoltaic (CPV) systems.

"Through the investment ABB gains access to GreenVolts’ proprietary technology and can now offer turnkey solutions for concentrating photovoltaic power plants in addition to its current capabilities in solar thermal and conventional photovoltaic power plants."

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"GreenVolts’ CPV system is more efficient than traditional photovoltaic and thin-film modules. By optimizing and integrating field-proven, high-performance components such as proprietary optics and tracking technology into a complete system, GreenVolts delivers energy yields that can be 30 to 40 percent higher than traditional panel-based systems…

"GreenVolts solar systems are designed to meet the operational requirements of a wide range of applications for utilities and industries as well as commercial, agricultural, and public sector customers. The technology complements ABB’s recent acquisition of a stake in Novatec Solar, a leading provider of Linear Fresnel concentrating solar power technology…"