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Siemens picks up stake in US-based Semprius
20 June 2011: Siemens has acquired a minority stake of about 16 per cent in the US pioneering solar company Semprius. However, investment details of the deal have not been disclosed.
Headquartered in Durham, North Carolina, Semprius has developed high concentrating photovoltaic (HCPV) modules. HCPV systems are a prime alternative to conventional photovoltaics and are especially suitable for regions with high direct irradiation. Construction of its first production facility will begin in July 2011. This investment gives Siemens early access to a highly promising technology for CO2-free power generation from solar energy.
Siemens will help Semprius to scale up its innovative technology to market maturity. The prospects are bright as high concentrating photovoltaic systems enable significantly higher efficiencies than conventional PV modules and at the same time offer enormous potential to achieve competitive levellised cost of electricity.
Source: Hindu Business Line