German solar project developer plans to finalise deal over next two months

Solar Millennium plans to sell 80%-90% of the rights to its latest 50 megawatt thermal plant in Spain, Andasol 3, according to a report filed by Reuters. German solar project developer’s co-founder Henner Gladen said the company intends to sell the majority stake over the next one or two months in a debt-free deal. The buyer will build and operate the plant and re-coup its investment through a 25-year, state-guaranteed power price agreement.

During the ongoing fiscal year the board is also planning income from orders for engineering and plant construction in its subsidiaries Flagsol and MAN Solar Millennium, as well as the financing and the construction start of both of its Spanish power plants, Andasol 3 and Ibersol. Andasol 1, the first parabolic trough power plant in Europe, initiated its test run late last year. The Andasol 2 project is currently under construction in southern Spain.

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Background: Andasol 1 press release

2007/2008 fiscal year press release