Citing an attractive 8% return on the investment, Solar Millennium is for the first time offering potential investors the opportunity to benefit from the returns on its 50MW Andasol 3 parabolic trough power plant, currently under construction, via a closed-end fund. The fund is aimed at investors domiciled in Germany, who can participate starting from a minimum amount of €5,000.
“Solar thermal power plants are both safe and attractive investments, with additional certainty due to the statutorily guaranteed feed-in tariff over the entire lifecycle,” noted Thomas Mayer, CFO of Solar Millennium AG. “Our fund offers an attractive and solid investment opportunity for investors pursuing a long-term strategy. In light of our strong project pipeline, closed-end funds will in future not only present an ideal alternative, but become one of the supporting pillars for financing our projects.”
According to Solar Millennium the Andasol 3 plant has already installed a collector surface area of more than 60,000 sqm. A thermal storage facility is also used, which enables the supply solar power after sunset on demand.