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Environment, Innovation and Systems, Energy
SUNCNIM The new player in concentrated solar power
Babcock Wanson launches EMR’Stock, an innovative, economical solution for high-volume energy storage
Paris, 24 June 2015 - The SPI Fund (Société de projets industriels), financed by the French government's Future Investments Program and operated by Bpifrance, is pleased to announce its first investment, to be made in SUNCNIM alongside the CNIM industrial group.
SUNCNIM, which will be majority-owned by CNIM, will develop and build turnkey concentrated solar power plants for export. As the first investment to be made by the SPI Fund, it will serve to accelerate the industrial development of thermal solar energy generation, an emerging technology with the potential to be a global market leader, and thus is fully in line with the Fund’s investment objectives.
A total of €55M, including contributions in kind of technology, will be invested in SUNCNIM, of which €25M will be provided by the SPI Fund. The venture will enable a strong industrial base to be created and aims ultimately to create 500 direct jobs in France, as well as generating considerable indirect employment.
As a renewable energy producer using non-polluting energy storage technology, SUNCNIM will also make a direct contribution to environmental and energy transition.
Read the press release
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