At the German companys Annual Shareholder Meeting, CEO Christoph Wolff said that while Solar Millenniums core focus will remain on solar-thermal power plants, and in particular parabolic trough power plants, it also intends to apply "other technologies for the use of solar energy in major power plants around the world in the future".
For example, he said that photovoltaics will be applied in individual projects. Specifically, the technology will be used in combination with parabolic trough plants, "in order to better utilize the potential of power plant surfaces".
Depending on the project, the company says it plans to cooperate with experienced photovoltaic partners, while the cells will reportedly be purchased on the global market.
Furthermore, Solar Millennium has said it will look at solar tower power plants, in the medium to long term. As such, a research and development team was established last year, aimed at their marketable development.
In a statement, the company added: "While parabolic trough power plants have been in use for years and Solar Millennium realizes plants using this technology in Egypt, Spain and the U.S., there is still a need for development when it comes to solar tower power plants."
Explaining the reasoning behind the move, Wolff said: "The expertise in project development, solar data measurement and approval processes can be used in equal measure for all power plant technologies. These synergy effects allow us to better utilize the capacities of our teams in the scope of our business model and increase the number of our potential power plant locations."
He continued: "Solar power has the greatest potential of all renewable energy sources and requires the least surface area per kilowatt hour generated."