SolFocus, a maker of concentrator photovoltaic systems, has signed a $103 million (80 euro) deal with Empe Solar, a Spanish group that promotes solar energy use.
Concentrator photovoltaic (CPV) systems typically use lenses and mirrors to concentrate light on solar cells to maximize the amount of electricity they can generate.
SolFocus plans to install over 10 megawatts of CPV systems across southern Spain for Empe Solar between now and 2010 as part of the deal.
SolFocus has already completed three utility-scale projects in Spain.
The 10-megawatt installation would collectively generate enough energy to supply a town of 40,000 residents, and eliminate 27,000 tons of CO2 emissions per year if used to replace traditional fossil fuel energy generators.
It's the largest deployment of concentrator photovoltaic solar energy systems in Europe so far, according to a joint statement from SolFocus and Empe Solar.
"Empe Solar seeks only the most innovative solutions to reduce electricity production costs for our customers. SolFocus has proven its technology's value in our region, and we are confident it will enable us to quickly achieve our cost targets for carbon-free energy," Empe Solar partners Eduardo Goicoechea and Sebastian Sagues said in a joint statement.
The other claim to fame SolFocus makes is that its CPV systems themselves, which primarily consist of aluminum and glass components, are kind to the environment since they are 95 percent recyclable.
But SolFocus is not the only company touting good news Monday for solar technology. Cool Earth Solar announced earlier it's rolling out its solar balloon prototypes over the next two weeks.