Solar Millennium to sell 2.25 GW US pipeline

Share

The 2.25 GW portfolio, which will change hands, is largely situated in the U.S.’ southwest and includes the huge Blythe solar power plant. The companies hope construction on the one GW Blythe plant could begin in 2013.

The agreement includes a stipulation that Solar Millennium will receive a "significant" profit share once the power plants are completed. The final negotiations behind the agreement are expected to be completed by the end of the month.

While the details of the deal are confidential, solarhybrid has paid the first installments on the purchase price and says that the transaction will be executed through its wholly-owned U.S. subsidiary.

"The agreement on the US projects is not only favorable for Solar Millennium and its shareholders from an economic and strategic point of view," said Solar Millennium CEO Christoph Wolff, "it ensures that our project investments in the US retain their value, adequately involves Solar Millennium in the future earnings of the solar power plants located there and gives the company a clear structure."

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.