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Solar Millennium sells off 2.25 GW CSP – projects converted to PV

Solar Millenium AG is selling off its 2.25 GW concentrating solar power (CSP) portfolio in the American Southwest to solarhybrid AG, which will build solar photovoltaic (PV) plants at the sites.

By Kari Williamson

Solar Millennium says it will nonetheless receive a “significant profit-share” of the solar PV plants in addition to being reimbursed its entire investment in the CSP projects.

solarhybrid has already paid the first instalments on the undisclosed purchase price, although the transaction is subject to another positive due-diligence assessment by solarhybrid. It is also possible that other industry partners will be included in the project.

Solar Millennium awaits US CSP growth

Solar Millennium says it will now focus on new and already planned solar-thermal and hybrid power plants in Europe, Asia, North Africa and Latin America and expand its respective technology platforms. The company recently inaugurated the Andasol 3 CSP power plant in Spain.

In the US, the company will be available as a project partner as soon as the demand for storable solar energy starts growing there once again, with the parabolic trough technology being its speciality.

Dr Christoph Wolff, CEO of Solar Millennium AG, says: "The agreement on the US projects is not only favourable for Solar Millennium and its shareholders from an economic and strategic point of view. It ensures that our project investments in the US retain their value, adequately involves Solar Millennium in the future earnings of the solar power plants located there and gives the company a clear structure."

Blythe construction in 2013

solarhybrid says it could begin construction on the first American solar PV project as early as 2013 – the 1 GW Blythe solar power plant in California.

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Photovoltaics (PV)  •  Solar electricity