With three major (242MW) each solar thermal power generation projects in the making in the U.S., Solar Millennium is forming a joint venture with MAN Ferrostaal to deliver complete turnkey services as the company expects further business to be secured in the country.
“We already work closely with MAN Ferrostaal in Europe, North Africa and the Middle East,” noted Christian Beltle, CEO of Solar Millennium. “By consolidating our activities and expanding our collaboration with MAN Ferrostaal we are strengthening our position in the U.S. market. At the same time we are putting the speedy and reliable implementation of our projects on a firm footing. Solar Trust of America will assume a major role in the development and construction of solar thermal power plants in the U.S. and build the first solar power plants of this size and capacity.”
Solar Millennium will have a 70% stake in the JV. The new company, Solar Trust of America LLC, would be better capitalized than Solar Millennium’s former U.S. subsidiary, enabling it to potentially attract and raise capital for future projects.