Novatec has successfully designed and commissioned a Concentrated Solar Power (CSP) system based on Linear Fresnel technology. Transfield Holdings invested in 2007 and took Novatec from a start-up company to a commercial provider of solar thermal technology.
In 2009 Novatec connected its 1.4MW demonstration plant to the national electricity grid in Puerto Errado Murcia, Spain (PE1) and its Nova-1 product won the Industry Prize at the Hannover Fair. In 2010 construction began on a 30MW plant (PE2), the world’s first utility-scale CSP plant based on Linear Fresnel technology, in the same location. Later that year, Novatec won a contract to build a 9MW coal fuel saver in Liddell, New South Wales.
In March 2011 Transfield Holdings introduced ABB, the leading power and automation technology group, as a minority investor in Novatec.
In 2012 PE2 commenced operation and the Liddell project both achieved practical completion.
In April 2013, following ABB's decision to exit the power station EPC market, Transfield Holdings acquired ABB's share in Novatec leading to an ownership position of approximately 85% of Novatec Solar.
In March 2015, Transfield Holdings divested its interests in Novatec.