Siemens' renewable energy division has acquired a minority stake – approximately 16% – in Durham, N.C.-based Semprius, a developer of high-concentrating photovoltaic (HCPV) modules.
The construction of Semprius' first production facility is expected to begin in July. Siemens says it will help Semprius scale up its technology to market maturity. The parties have agreed not to disclose further details of the investment.
The market for HCPV installations is still in its early stages, but it is expected to grow to a volume of up to 6 GW by 2020, according to Siemens. Semprius' HCPV modules use lenses to focus the sun's light onto small, highly efficient cells.