December 14, 2011 – ABB, a global power and automation technology group, will invest about $20 million as part of a $35-million financial round for a “substantial” minority stake in California-based GreenVolts, a provider of turnkey concentrating photovoltaic (CPV) systems.

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

GreenVolts’ CPV system is more efficient than traditional photovoltaic and thin-film modules, says ABB. By optimizing and integrating components such as proprietary optics and tracking technology into a complete system, explains ABB, GreenVolts delivers energy yields that can be 30-40% 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.”

GreenVolts solar systems are designed to meet the operational requirements of a range of applications for utilities and industries, as well as commercial, agricultural and public sector customers.