ABB invests in Novatec Solar, sharpens solar focus
March 16, 2011 – ABB agreed to buy a 35 percent stake in Novatec Solar (formerly Novatec Biosol), an innovative Concentrated Solar Power (CSP) technology company based in Karlsruhe, Germany.
Novatec Solar is a leading provider of Linear Fresnel CSP technology using flat mirrors to concentrate the sun’s energy onto a receiver to produce steam. The solar-produced steam reduces the need for fossil fuels to generate electricity in existing or new power stations, and also in process plants and other industrial applications where heat is required. Compared with other CSP technologies, Novatec Solar’s technology is highly competitive due to its use of flat glass and common steel in low-lying mirror modules that are easy to assemble and install.
The investment includes an option to acquire 100 percent of Novatec Solar and an agreement to cooperate on future solar power plant projects. The companies agreed not to disclose financial details of the transaction.
CSP is a fast-growing sector of the renewable energy market and this investment complements ABB’s existing activities in power plant automation, electrification and long-distance electricity transmission.
"This investment brings us closer to solar power based on CSP technology and supports ABB's focus on renewable energies, complementing our own power generation offering,” said Peter Leupp, head of ABB’s Power Systems division. ”The technology’s simplicity, financial viability as well as minimal water and land requirements are factors that make it particularly attractive in emerging markets, where ABB has a strong position.”
“ABB’s strategic investment will help position Novatec Solar as a leading global solar company," said Guido Belgiorno-Nettis, Chairman of the Board of Novatec and joint Managing Director of Transfield Holdings, the company’s majority shareholder. "ABB is at the forefront of renewable energy generation and integration, and we look forward to working together and expanding the potential of this technology.”
Novatec Solar’s patented Linear Fresnel technology has been demonstrated with a 1.4 megawatt (MW) plant connected to the Spanish electricity grid since March 2009. The company is currently constructing the world's first commercial 30 MW Linear Fresnel power plant, also in Spain, and recently won an order to retrofit a solar field to a 2,000 MW coal-fired power plant in Australia. Novatec Solar has developed a highly automated manufacturing process and solar field cleaning system. The company, which has about 80 employees, also won the overall Industry as well as Energy and Environment Awards at the 2009 Hanover Fair.
ABB has an extensive offering of products, systems and service solutions for the solar sector, has successfully executed a significant number of turnkey projects around the world and won several recent orders.
ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 124,000 people
MORE INDUSTRY NEWS
Rockwell to showcase solutions for Water and Wastewater Facilities at WEFTEC 2016
Featuring its PlantPAx platform, Rockwell Automation will demonstrate process and automation solutions for efficient process control, monitoring...
Siemens donates automation technology to support Georgia’s THINC College & Career Academy
The donation of $100,000 in automation hardware and expert training will help support career pathways for high school students in manufacturing and...
Siluria names Erik Scher as Chief Operations Officer
As COO, Dr. Scher is responsible for the company's operating activities, including its OCM demonstration plant in Texas and multiple pilot plants...
ABB announces NKT Cables acquisition of ABB's cable system business
NKT Cables is acquiring ABB’s global high-voltage cable system business with a total value of 836 million euros (US$934 million). The business is...
IMTS concludes as third largest in their history
IMTS 2016, the 31st edition of the show, was the third largest in number of registrations (115,612) and in net square feet of exhibit space...
Bedrock provides SCADA RTU platform for Clarksville Light and Water
The project is part of Clarksville, Arkansas' plan to save up to $2M over the next five years through improved control, monitoring, and security of...
Rotork actuators support environmental improvement at Aberthaw Power Station
Through the use of automation that includes Rotork valve actuation, Aberthaw can efficiently generate around 1555 MW of electricity for the...
Dalian Metro uses Rockwell Automation to integrate system, cuts energy usage by 12%
The entire Dalian metro system includes more than 50 redundant Allen-Bradley MicroLogix and CompactLogix controllers with about 100,000 I/O points...
MicroPower Direct releases glossary of power conversion terms
MicroPower Direct's free power conversion glossary contains 19 pages and 800 definitions of terms associated with a range of power technologies and...
NEMA publishes NEMA ABP 1-2016 Selective Coordination of Low-Voltage Circuit Breakers
The purpose of this paper is to provide guidance to engineers regarding the National Electrical Code (NEC) requirements for selective coordination.