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The market for large PV systems is growing rapidly. An innovative 120x point focus concentrating system has been designed with the objective of achieving the lowest possible installed system price. As far as possible, extrapolations from one sun technology have been used. The Laser Grooved Buried Contact (LBGC) solar cell was chosen for the lowest cell Â¿/Wp cost. One sun lamination technology was adopted for the receiver assembly but with a novel interconnection technology including a heat spreader for dissipation of heat. A Fresnel lens has been designed for manufacture by low cost injection moulding which gives a uniform irradiation at the focal point and is very tolerant of tracking errors. A system of predrilled holes in the base plate with mounting pillars ensures good lens to cell alignment and low assembly cost. A low cost tracking system has been developed. A low total system cost is projected and the levelised cost of electricity from the system is predicted to be the lowest amongst current PV technologies.