ENDESA (NYSE:ELE)has signed a collaboration agreement with Isofoton which ensures that ENDESA will have access to the equipment it needs to develop solar plants between now and 2011.
The partners will work together on several demonstration concentrating photovoltaic technology (CPV) projects, based on gallium arsenide. The material is used to collect and focus sunlight on a series of lenses, creating more energy on a smaller surface area.
They also have agreed to construct Silicio Energia, a polysilicon plant, in southern Spain, to guarantee project supplies.
Construction on Silicio Energia will begin in the next few months and should be operating in 2009, with ENDESA supplying the power.
The agreement also provides for collaboration on several projects designed to demonstrate concentrating photovoltaic technology (CPV), which will facilitate subsequent commercialisation.
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