SoloPower raises “tens of millions” more, despite similarity to competitors

SoloPower, yet another company in Silicon Valley trying to making cheaper solar power modules, has raised “tens of millions of dollars” more in capital.

We wrote about the company four months ago, when it raised $10 million, and noted it uses the same CIGS material that several other start-ups are using, and which are having problems reaching sufficient “efficiency.” Efficiency refers to the percentage of the sun’s energy that is translated into electricity by the photovoltaic process.

Alf Bjorseth, founder of one of the world’s largest solar companies, Renewable Energy Corp, made the investment, according to VentureWire (subscription required). The financing will be used to build a 20-megawatt capacity production facility.