Solar Millennium Buys Stake in Ibersol

Solar Millennium AG has acquired a 50 percent stake in Spanish solar project company Ibersol Electricidad Solar Ibérica S.L. from NEO Energía, a subsidiary of Energías de Portugal S.A. (EDP). Solar Millennium intends to start work on the 50 megawatt (MW) parabolic trough power plant being planned by Ibersol in mid-2009.

The technology needed for the Ibersol solar power plant will be supplied by Flagsol GmbH, a subsidiary of Solar Millennium based in Cologne. It is also expected that responsibility for the construction of the power plant will come from within the Solar Millennium Group. MAN Solar Millennium GmbH is set to assume responsibility for this in a joint venture with MAN Ferrostaal.

“Our Andasol power plants in southern Spain are the first ever parabolic trough power plants developed in Europe. Spain will remain for us a significant market over the next few years. We have many projects in the pipeline here. With projects totalling a power output capacity worldwide of over 2,000 MW, we are consistently continuing to advance our growth strategy,” said Christian Beltle, CEO at Solar Millennium.

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