Isofoton completes its first HCPV plant in China

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The system is located in the northern part of China, in Golmud, in the Qinghai province, at an elevation of 2,900 meters. According to the Spanish photovoltaic company, the site receives very little annual precipitation and boasts over seven kW hours per meter square of direct solar radiation daily.

It is expected that the plant will generate over 220 MWh annually, which will go towards providing 200,000 residents with solar energy.

Isofoton worked with local provider GD Solar, which will also manage the system, to complete the project. The company says its technology is capable of generating up to 50 percent more energy than conventional photovoltaic systems.

"Some nations like China, United States and Italy are betting strongly on this new promising technology which is capable of generating more energy at less cost, as well as creating jobs and wealth in areas of the globe where it is not possible to do so by other means," it said in a statement released.