ABB invests in US photovoltaics firm

The investment forms part of ABB's plans to strengthen its focus on renewables and will allow the company to offer turnkey solutions for concentrating photovoltaic power plants. GreenVolts' turnkey concentrating photovoltaic systems optimise and integrate high performance components such as proprietary optics and tracking technology into a complete system. The start up's proprietary technology is said to deliver energy yields that can be 30 to 40% higher than traditional panel based systems. "The technology combines simplicity and precision with unmatched performance, fast installation, easy operation and low cost of production," said Peter Leupp, head of ABB's Power Systems division. "Our extensive footprint, which covers all key solar markets in the world, will help us to make this technology globally accessible." David Gudmundson, president and ceo of GreenVolts, added: "Our complete and fully integrated photovoltaic system is an industry game changer. Every component is carefully designed to work together in a turnkey solution that dramatically reduces the cost and complexity of solar projects."