Release
Solar Millennium AG took over the project company of the planned 50 MW parabolic trough power plant Arenales from Fotowatio Renewable Ventures together with OHL Industrial, a division of the Spanish construction group Obrascón Huarte Lain, S.A. (OHL). Both companies each acquired 50 percent of the shares. With this transaction the Solar Millennium Group is instrumental in the development and realization of a fifth solar thermal power project after the Andasol 1- 3 and Ibersol projects in Spain.
OHL Industrial is scheduled to take on the construction of the power plant as the contractor for Engineering, Procurement and Construction (EPC) and Solar Millennium will take the responsibility as project developer by its Spanish subsidiary Milenio Solar Desarrollo de Proyectos. The project entry also provides for the technology subsidiary Flagsol GmbH, by order of the EPC contractor to take on responsibility for the construction of the thermal storage and heat transfer fluid system as a sub-contractor. Both companies plan to start construction already in the 2nd quarter of this calendar year and simultaneously close the financing for the power plant.
Dr. Christoph Wolff, CEO of Solar Millennium: “The Arenales project is an important milestone for the further strengthening of our market position in Spain. At the same time, this purchase is part of our strategy of further broadening and perpetuating our business model with several smaller projects and a higher portion of EPC services. Furthermore the cooperation with OHL Group offers a lot of potential for the future.”
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