Solar Millennium

Last updated
Solar Millennium AG
Type Aktiengesellschaft
IndustrySolar engineering
Founded1986 (1986)
Defunct2011
Headquarters
Erlangen
,
Germany
Key people
Christoph Wolff (Chairman)
Helmut Pflaumer (Supervisory Board Chairman)
Products Concentrated solar power−CSP power plants
Number of employees
235 [1]
Website www.solarmillennium.de

Solar Millennium was a German company globally active in the renewable energy sector founded in 1998 in Erlangen, Germany, which is specialized in the designing and implementation of solar thermal power plants. The main activities are site selection, project development, planning, design and construction of parabolic trough power plants. [2]

Contents

The Federal Financial Supervisory Authority (BaFin) is investigating allegations of insider trading in the company's shares at Solar Millennium. [3] According to a report in the Süddeutsche Zeitung, company founder Hannes Kuhn is said to have bought shares before Utz Claassen's engagement caused the share price to jump. [3] [4]

As a result of the reporting, Hannes Kuhn stretched a sued against the journalists involved and the Süddeutsche Zeitung for around 80 million euros in damages for eight years. Expert said it was a SLAPP. [5] [6]

History

The company was founded in October 1998 as 'Solar Century Management GmbH' by businessmen Hannes Kuhn. [7] This company was renamed in March 1999, as 'Solar Millennium GmbH'. The corporation was created by transformation in June 1999. The IPO took place in July 2005.

On 21 December 2011, Solar Millennium filed for insolvency. [8]

Projects

The first large-scale power plant project by Solar Millennium is the Andasol complex, which consists of three immediately adjacent, essentially identical parabolic trough power plants, Andasol 1 to 3 in southern Spain. [9] In June 2006 the construction of Andasol 1 on the plateau of Guadix in Andalusia was initiated. Andasol 1 ran from October 2008 in test mode and went to the grid in December 2008. It was officially inaugurated not until July 2009 as previous output was not under completely approved regular operation. [10] A virtually identical further parabolic trough power plant "Andasol 2" was constructed right next to Andasol 1 on the plateau of Guadix. The construction started in February 2007, the power plant is connected to the grid since 2009. Even before completion of the plant, the construction of "Andasol 3" began, which will begin[ citation needed ] operation in summer 2011. After the commissioning of the third power plant, parabolic trough plants Andasol 1 to 3, each with a collector surface area of over 500.000 square meters will provide solar power for 500.000 people. Andasol is the first parabolic trough power plant in Europe and to date the largest solar power plant in the world. Meanwhile, Solar Millennium has sold all of its own shares in Andasol 1 and Andasol 2 to other consortia. Andasol 3 is financed jointly by Solar Millennium, Stadtwerke München GmbH, Innogy, RheinEnergie and Ferrostaal.

In May 2008, Solar Millennium won the Energy Globe Award, for the initiation and development of Europe's first parabolic trough power plants, the Spanish Andasol power plants. The jury also selected the Andasol projects as the winning national project for Spain. [11] With the power plants Ibersol [12] and Arenales [13] - 50 MW capacity each - Solar Millennium AG is pursuing further projects in Spain. In December 2008, the construction of a parabolic trough solar field in Egypt was initiated. [14] This solar field is part of the planned hybrid power plant south of Cairo, which had been advertised by the Egyptian government and is supposed to use both solar thermal energy and natural gas. In December 2010, as part of the commissioning of the entire solar field the collectors were aligned with the sun for the first time and the heat energy was fed into the heat exchanger in the power block. Electricity production and feeding to Egyptian power grid will begin in early 2011, as soon as the conventional power plant part with the turbine is put into operation.

In autumn 2010, the administration of U.S. President Barack Obama approved the plan to build a large scale solar power plant in California, the Blythe Solar Power Project. Solar Millennium proposed four solar power plants with a total capacity of 1,000 megawatts, which would have been the largest solar energy facility in the world. The project was to be located in the Colorado Desert near Blythe. On 18 April 2011, US Secretary of Energy, Dr. Steven Chu, offered the Solar Millennium a conditional commitment for a US$2.1 billion loan guarantee. On June 18 government and corporate leaders lifted shovels of dirt to toast the Blythe Solar Power Project in the California desert, 225 miles east of Los Angeles. [15] However the project never began construction and NextEra Energy eventually acquired the site for a proposed PV plant.

Solar Millennium stock

The shares of Solar Millennium AG are traded in Germany on the open market since 27 July 2005. They are traded, inter alia, on the Frankfurt Stock Exchange and in the automated trading system Xetra and on Nasdaq.

Company structure

In May 2010, the merger of its technology subsidiary Flagsol GmbH (Cologne) and participation in the power plant joint venture of MAN Solar Millennium GmbH (Essen) has been completed. With 74.9 percent of the shares, Solar Millennium is still in charge of the joint venture. 25.1 percent are owned by the group Ferrostaal, Essen. The company operates under the name Flagsol GmbH based in Cologne. Further offices are located in Essen, Madrid, Berkeley, Johannesburg and Abu Dhabi. The business is focused on developing the technology for solar thermal power plants and in the area known as EPC (Engineering, Procurement & Construction) for parabolic trough solar fields and power plants.

Also in 2007, Solar Millennium AG, together with the Inner Mongolia Lvneng New Energy Co. Ltd.. based in Hohhot China, established a joint company. Each of the two companies hold 50 percent stake in the new company Inner Mongolia STP Development Co. Ltd. with headquarters in Hohhot. The intention is the development and implementation of the first parabolic trough power plant in China. A feasibility study has been completed, the government plans to appropriate tenders.

2009, the market position has been strengthened in the U.S. through a joint venture with Ferrostaal Inc.. The company, Solar Trust of America, LLC is a full service provider of solar thermal power plants. By bundling all the activities and features in Blythe, Palen, Amargosa and others, there already is a strong project pipeline in the southwestern United States. Inter alia, there are contracts / cooperative agreements or power purchase agreements (PPAs) with Nevada Energy and Southern California Edison (SCE), two of the largest electricity producers in the U.S., for various projects in the U.S..

Technology-Subsidiary: [16]
Corporation (selection):
  • Milenio Solar Desarrollo de Proyectos S.L., Spanien (100 %)
  • Ibersol Kraftwerks GmbH, Spanien (100 %)
  • Murciasol-1 Planta Solar Térmica S.L., Spanien (50 %)
  • Termosolar de Albacete S.L., Spanien (34 %)
  • Inner Mongolia STP Development Co. Ltd., China (50 %)
Financing/Investment:
  • Solar Millennium Invest AG (55 %)
  • Andasol Invest Verwaltungs GmbH (100 %)
Construction:
  • Solar Trust of America LLC (70%) — Subsidiary in the United States (joint venture with MAN Ferrostaal)

Bankruptcy

In December 2011, the company announced it was bankrupt and undergoing insolvency proceedings. [17]

Related Research Articles

<span class="mw-page-title-main">Solar thermal energy</span> Technology using sunlight for heat

Solar thermal energy (STE) is a form of energy and a technology for harnessing solar energy to generate thermal energy for use in industry, and in the residential and commercial sectors.

<span class="mw-page-title-main">Parabolic trough</span> Technology used in concentrated solar power stations

A parabolic trough is a type of solar thermal collector that is straight in one dimension and curved as a parabola in the other two, lined with a polished metal mirror. The sunlight which enters the mirror parallel to its plane of symmetry is focused along the focal line, where objects are positioned that are intended to be heated. In a solar cooker, for example, food is placed at the focal line of a trough, which is cooked when the trough is aimed so the Sun is in its plane of symmetry.

<span class="mw-page-title-main">Solar Energy Generating Systems</span> Concentrated solar thermal power station in the Mojave Desert of California

Solar Energy Generating Systems (SEGS) is a concentrated solar power plant in California, United States. With the combined capacity from three separate locations at 354 megawatt (MW), it was once the world's second largest solar thermal energy generating facility, until the commissioning of the even larger Ivanpah facility in 2014. It consisted of nine solar power plants in California's Mojave Desert, where insolation is among the best available in the United States.

<span class="mw-page-title-main">Nevada Solar One</span> Concentrated solar power station

Nevada Solar One is a concentrated solar power plant, with a nominal capacity of 64 MW and maximum steam turbine power output up to 72 MW net (75 MW gross), spread over an area of 400 acres (160 ha). The projected CO2 emissions avoided is equivalent to taking approximately 20,000 cars off the road. The project required an investment of $266 million USD, and the project officially went into operation in June 2007. Electricity production is estimated to be 134 GWh (gigawatt hours) per year.

<span class="mw-page-title-main">Solel</span> Israeli solar thermal equipment designer

Solel Solar Systems Ltd. was an Israeli solar thermal equipment designer and manufacturer based in Beit Shemesh, Israel. Solel made equipment for solar thermal power plants, facilities that used the sun's heat to create steam and turn an electricity generator.

<span class="mw-page-title-main">Hassi R'Mel integrated solar combined cycle power station</span>

The Hassi R'Mel integrated solar combined cycle power station is an integrated solar combined cycle (ISCC) power station near Hassi R'Mel in Algeria. The plant combines a 25 MW parabolic trough concentrating solar power array, covering an area of over 180,000 m2, in conjunction with a 130 MW combined cycle gas turbine plant, so cutting carbon emissions compared to a traditional power station. The output from the solar array is used in the steam turbine.

<span class="mw-page-title-main">Andasol Solar Power Station</span> Concentrated solar thermal power station in Spain

The Andasol solar power station is a 150-megawatt (MW) concentrated solar power station and Europe's first commercial plant to use parabolic troughs. It is located near Guadix in Andalusia, Spain, and its name is a portmanteau of Andalusia and Sol. The Andasol plant uses tanks of molten salt as thermal energy storage to continue generating electricity, irrespective of whether the sun is shining or not.

Verbund AG, formerly known as Verbundgesellschaft or Österreichische Elektrizitätswirtschafts-AG, is Austria's largest electricity provider. Verbund covers around 40 percent of electricity demands in Austria and generates 90 percent thereof from hydro power. In addition, Verbund operates the supraregional power grid through its subsidiary APG. Verbund AG is listed on the Vienna Stock Exchange and in the ATX, the key index of Austrian stock-listed companies. The largest shareholder, at 51%, is the Republic of Austria.

<span class="mw-page-title-main">Ferrostaal</span>

Ferrostaal is a German-owned industrial services company. It has 4,400 employees and an annual turnover of around 1.6 billion euros (2008), and has a market presence in around 40 countries. The company's activities are focused in two areas: Projects and Services. In 2009, the International Petroleum Investment Company (IPIC) of Abu Dhabi took over 70% of the shares of Ferrostaal AG from MAN AG, Munich. Due to the acquisition of the majority shares, the company entered the commercial register as Ferrostaal, signifying its separation from the MAN Group.

<span class="mw-page-title-main">Concentrated solar power</span> Use of mirror or lens assemblies to heat a working fluid for electricity generation

Concentrated solar power systems generate solar power by using mirrors or lenses to concentrate a large area of sunlight into a receiver. Electricity is generated when the concentrated light is converted to heat, which drives a heat engine connected to an electrical power generator or powers a thermochemical reaction.

<span class="mw-page-title-main">Torresol Energy</span>

Torresol Energy is a company dedicated to developing renewable energy and alternative energies, focusing on concentrated solar energy. It is based in the city of Getxo in Biscay Province (Vizcaya), in the Basque Country of northern Spain.

<span class="mw-page-title-main">Shams Solar Power Station</span> Concentrating solar power plant

Shams Solar Power Station is a concentrating solar power station near Madinat Zayed, Abu Dhabi, the United Arab Emirates. The solar power station is located approximately 120 kilometres (75 mi) southwest of Abu Dhabi and 6 kilometres (4 mi) from Madinat Zayed on the road from Tarif to the Liwa Oasis.

<span class="mw-page-title-main">Valle Solar Power Station</span> Two adjacent twin 50 MW solar thermal power plants

The Valle Solar Power Station is a two adjacent twin 50 MW solar thermal power plants in San José del Valle, Cádiz, Spain, near the border with the Arcos de la Frontera (north) and the Jerez de la Frontera (west) municipalities, in the comarca of the Campiña de Jerez, a county with no administrative role.

<span class="mw-page-title-main">Blythe Mesa Solar Power Project</span> Linux solar power

The Blythe Mesa Solar Power Project, also known as the Blythe Solar Energy Center, is a 235 megawatt (MWAC) photovoltaic power plant near the city of Blythe in Riverside County, California. It occupies about 2,000 acres of public land managed by the Bureau of Land Management in the Mojave Desert. The construction uses CdTe thin film panels from the U.S. firm First Solar, and the majority of the output is being sold to Kaiser Permanente and Southern California Edison under 20-year power purchase agreements.

<span class="mw-page-title-main">Solarlite</span>

Solarlite CSP Technology GmbH, located in Mecklenburg-Pomerania, Germany, develops and builds decentralized solar-thermal parabolic trough power plants and process heat plants. For the first time worldwide, Solarlite is using direct steam generation commercially in a power plant. In 2012, Solarlite declared insolvency. The company was reincorporated the next year by Joachim Krüger (CEO).

Solar Trust of America was an integrated solar industrial solutions company founded in 2009 and based in Oakland, California. The company was developing the Blythe Solar Power Project, the largest solar plant in the world in the Mojave Desert, among other projects. The company was noted for having turned down a $2.1 billion loan guarantee by the Department of Energy (DOE) for the construction of the Blythe project. Uwe T. Schmidt was CEO. On April 2, 2012, the company filed for Chapter 11 bankruptcy protection.

<span class="mw-page-title-main">GlassPoint Solar</span> Solar steam generator

GlassPoint is a private company founded in 2009 that designs and manufactures solar steam generators which use solar thermal technology to generate steam for industrial processes.

WIRSOL Solar AG is an international solar energy provider, specialized in the planning, financing, construction and maintenance of solar power plants of any size. The headquarters of the company is in Germany. Further company offices are located in Spain, Italy, Great Britain, Belgium, Switzerland, Canada, USA, China, Malaysia and the Maldives.

References

  1. ↑ Solar Millennium AG - Kennzahlen
  2. ↑ We're Developing the Future
  3. 1 2 Balser, Markus; Ritzer, Uwe (2011-08-16). "Verdacht auf Insiderhandel bei Solar Millennium". Süddeutsche.de (in German). Retrieved 2023-11-25.
  4. ↑ "Handelsblatt". www.handelsblatt.com. Retrieved 2023-11-25.
  5. ↑ Übermedien (2022-05-06). "Wie gehen Journalisten mit Einschüchterungsklagen um?". Übermedien (in German). Retrieved 2023-11-25.
  6. ↑ "SLAPPs – Ein Angriff auf Demokratie und Meinungsfreiheit". umweltinstitut.org/ (in German). Retrieved 2023-11-25.
  7. ↑ "Prozess in Nürnberg: Spekulant will 78 Millionen von der SZ". www.nordbayern.de. Retrieved 2022-05-09.
  8. ↑ Bergin, Tom; Young, Sarah (2011-12-21). "BP turns out lights at solar business". Reuters. Retrieved 2011-12-21.
  9. ↑ BMU, Bundesministerium für Umwelt, Naturschutz und Reaktorsicherheit. "Deutsche Technologie im Parabolrinnenkraftwerk Andasol 1" . Retrieved 11 July 2011.{{cite web}}: CS1 maint: multiple names: authors list (link)
  10. ↑ Layton, Julia. "Is there a way to get solar energy at night?". How Stuff Works. Retrieved 11 July 2011.
  11. ↑ Solar Millennium wins Energy Globe Award
  12. ↑ "Solar Millennium AG sells further stakes in the Spanish Ibersol power plant project" . Retrieved 11 July 2011.
  13. ↑ "Solar Millennium AG and OHL Industrial jointly take over planned Spanish 50 megawatt power plant Arenales from Fotowatio Renewable Ventures" . Retrieved 11 July 2011.
  14. ↑ "ISCCS Al Kuraymat". NREL. Retrieved 13 December 2020.
  15. ↑ "Groundbreaking for Blythe Solar Power Project". SFGate.com. 18 June 2011. Retrieved 11 July 2011.
  16. ↑ "Solar Millennium AG - Annual Report 2009/2010" (PDF). Retrieved 11 July 2011.
  17. ↑ "Solar Millennium AG files for opening of insolvency proceedings (press release)". Archived from the original on 2 February 2017. Retrieved 13 December 2020.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.