DOE awards Abengoa nearly $2B through SunShot Initiative Program

DOE SunShot

As part of the SunShot Initiative Program, the U.S. Department of Energy (DOE) has awarded Abengoa (NASDAQ: ABGB), nearly $2 million for a new R&D project to improve manufacturing and assembly of its large aperture parabolic trough collector. A parabolic trough collector is the mirrored structure mostly used in utility-scale concentrating solar power (CSP) plants.

Abengoa will work over the next two years to improve cost competitiveness within the CSP industry while applying automation technologies to the manufacturing of the company's newest parabolic trough design, the SpaceTube® collector.

The award will help Abengoa improve structural efficiency and component standardization, making solar energy more accessible.

Abengoa is developing the 280-MW Solana project in Arizona and the 280-MW Mojave Solar Project in California. Currently the company has 16 plants consisting of 1,223 MW in operation and 640 MW either under construction or in pre-construction phases in 27 plants.

The SunShot Initiative is an effort to drive solar innovation while making it cost-competitive with other energy sources.

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