Siemens has acquired a minority stake of about 16 per cent in the US pioneering solar company Semprius.
The parties have agreed not to disclose the details of the investment, Siemens said.
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. This investment gives Siemens early access to a highly promising technology for CO2-free power generation from solar energy, Siemens said.
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.
Semprius' HCPV modules use high-performance lenses to focus the sunlight on very small, highly efficient cells which convert the solar energy directly into electric current. The first full test installation has been operational in Arizona since August 2010 Additional installations are scheduled to follow before the end of this year.
The market for HCPV installations is still in its early stages but is expected to grow to a volume of about six GW (giga watts) by 2020, Siemens said.