solar thermal electric

Micro CSP developer signs MOU for financing with Chinese investment firm

Sopogy, Inc., a developer of micro concentrated solar power (MicroCSP) technologies, has signed a memorandum of understanding for equity and project finance with Sichuan Dongjia Investment Company, the Chinese contracting and investment firm.
Micro CSP developer signs MOU for financing with Chinese investment firm

Sopogy is developing modular collectors about one-third the size of a traditional concentrated solar power mirror in an effort to achieve significant cost-reductions for CSP. Proprietary storage units stabilize volatile energy production when cloudy and prolong production after sunset.

The MOU outlines how Sichuan Dongjia Investment Company would invest in Sopogy, Inc. and projects using Sopogy’s MicroCSP technology in Hawaii and China.

In return, Sopogy, which is based in Koolau, Hawaii, agreed to expand in China with Sichuan Dongjia Investment Company as its marketing and manufacturing partner.

The deal came at end of the Asia Pacific Economic Cooperation (APEC) summit in Hawaii, and a signing ceremony took place at the China Aloha Business Leaders’ night gala sponsored by the China Council for the Promotion of International Trade and Bank of Hawaii.

Honolulu City and County Mayor Peter Carlisle and others from the Hawaii-China delegation attended the event.

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Tags: China , CSP , Solar , Storage
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