Japan's Chiyoda invests in Archimede Solar
Japan's Chiyoda Corporation, an engineering and construction firm, has announced in a press release its investment in Italy's Archimede Solar Energy to strenghten its presence in the concentrated solar power sector.
Chiyoda and Archimede signed a Cooperation Agreement on June 2011 to develop molten salt parabolic trough technology and, since then, both companies have been working together in the construction and operation of a plant to demonstrate this new technology.
The pilot plant has a parabolic trough solar field that uses molten salts as heat transfer fluid (HTF) instead of synthetic oil or water as usual.
Archimede Solar is the world's only manufacturer of solar collector tubes to be used with molten salt as heat transfer fluid. For Chiyoda, the participation in Archimede's capital will be a significant step with a 15% shares. The other 85% will remain to Group Angelantoni S.p.A.
Chiyoda plans to espand its CSP business in the MENA region and secure EPC contracts with Archimede's technology to build CSP plants.