Siemens has acquired a minority share (approximately 16%) in U.S. solar company Semprius. Headquartered in Durham, North Carolina, Semprius develops high concentrating photovoltaic (HCPV) modules. This investment gives Siemens early access to what it describes as a highly promising technology for CO2-free power generation from solar energy. Siemens will act as a strategic investor to help Semprius develop this innovative technology to market maturity. The parties have agreed not to disclose the purchase price.
“Participating in Semprius provides us access to trailblazing technology for clean power generation,” said Martin Schulz, Vice President of Photovoltaics in the Renewable Energy Division of Siemens Energy. “We believe the prospects are bright for high concentrating photovoltaic systems that enable significantly higher efficiencies than conventional PV modules, and at the same time, offer enormous potential to achieve competitive levelized costs of electricity.” The market for HCPV installations is still in its early stages but is expected to grow to a volume of up to six gigawatts by 2020. HCPV systems are a prime alternative to conventional photovoltaics and are especially suitable for regions with high direct sunlight, for example along the Earth’s sunbelt.