Solar

Stadtwerke Mu?nchen & RWE Innogy Invest in Andasol 3

Additional investors have entered into the Andasol 3 parabolic trough power plant project developed by Solar Millennium AG in the south of Spain. The plant is presently under construction.

Holding company Solanda GmbH is selling 74% of its shares in the Andasol 3 project company, Marquesado Solar S.L., to several utilities. Stadtwerke Mu?nchen is acquiring a stake of 48.9% in the project company, RWE Innogy and RheinEnergie are acquiring 25.1% via a joint holding company (RWE Innogy: 51%, RheinEnergie: 49 %). The other 26% remain in the hands of the holding company Solanda.

The Andasol projects are three 50-megawatt (MW) parabolic trough power plants in Andalusia, which were initiated and developed by Solar Millennium AG. Solar Millennium AG’s subsidiary Flagsol in Cologne contributed the solar field technology for the three power plants. Andasol 1 and 2 were implemented together with a Spanish construction company and are already producing electricity. Andasol 3 is under construction and scheduled to be connected to the grid in 2011.

“As a result of our early market entry we have gained extensive know-how in the development and realization of solar-thermal power plants. In both Spain and Egypt we delivered the solar technology for the countries’ first ever parabolic trough power plants. The fact that we are now acting in concert with four German top companies is a wonderful acknowledgment of our work so far,” said Christian Beltle, CEO of Solar Millennium.