Nevada Energy, Solar Millennium and MAN Ferrostaal cooperate in the development of projects

• Solar-thermal power plant with a capacity of 250 megawatts, thermal storage technology and an investment volume of over 1 billion US dollars
• Cooperation planned on other projects in the state of Nevada
• Planned start of construction for the first power plant at the end of 2010

Erlangen/Las Vegas (Nevada), 04.03.2009 Solar Millennium (ISIN DE0007218406) is cooperating with NV Energy Inc., a large energy supplier in Nevada, in the development of large solar-thermal power plants. Solar Millennium LLC, the American subsidiary with headquarters in Berkeley (California), NV Energy and MAN Ferrostaal Inc., the joint venture partner of Solar Millennium AG for the construction of solar-thermal power plants in the US, signed a memorandum of understanding (M.O.U.) for the joint development of projects in the Amargosa Desert.

A first step will be the design of a parabolic trough power plant with a capacity of 250 megawatts (MW) and thermal storage technology, of the type already used by Solar Millennium in the Andasol 1 and 2 projects in Southern Spain. This enables planned electricity production beyond daylight hours. This solar power plant is to help meet the high electricity demands of the sunny region during the hot summer months. Solar Millennium began with the development of the project about two years ago. The parties also plan to cooperate in the development and implementation of further solar-thermal power plants in Southern Nevada.

Michael Yackira, CEO of NV Energy, emphasizes: "Solar technologies have been making great strides in the last several years. Solar-thermal power plants with thermal storage technology are capable of providing reliable power supply, and they will be part of the future energy mix. Such projects can also be an important boost to the local economy." The investment volume of the power plant with a capacity of 250 MW is more than one billion US dollars. For the construction approximately 1,000 people will be provided with work over a period of two to three years.

Christian Beltle, CEO of Solar Millennium AG, sees a large market potential for solar-thermal power plants in the USA: "Some areas of the south-west of the United States have excellent solar radiation conditions, with up to 2,800 kWh/m²/a, and many of these regions are close to large population centers. In the future, solar-thermal power plants will play a big part in covering the electricity requirements in Nevada in a climate-friendly way. We are very much looking forward to cooperating with NV Energy and, taking into consideration the current support from the local authorities, we plan to start construction in 2010."

Josef Eichhammer, CEO of Solar Millennium LLC, is optimistic when it comes to the course of the project: "With NV Energy, we have found a reliable partner for the planning of power plants, and this will help us obtain the necessary approvals within the planned schedule. When talking to politicians and authorities in Nevada, as well as in other states and also in Washington, there is usually a very positive mood when it comes to the construction of solar-thermal power plants. The start of construction in 2010 will also be a plus for the financial side of the project, since we will be able to finance 30% of the project within the framework of President Obama's Economic Stimulus Bill."
This stimulus package, for the maintaining of jobs and the creation of new industries, was recently passed by President Obama, and one of the main beneficiaries is the renewable energy industry.

Uwe T. Schmidt, CEO of MAN Ferrostaal Inc. and member of the Management Board of MAN Ferrostaal AG, emphasizes: "Having constructed more than 5,000 industrial facilities around the world, we have the experience to build this solar-thermal power plant with thermal storage technology to the full satisfaction of Nevada Power." Schmidt adds: "We are convinced that the plant will set a new benchmark for such power plants. In the future, such power plants will turn Nevada from an energy importer into an energy exporter, marking the start of a new era for Nevada."

As a first step under the agreement, the parties are undertaking various energy transmission and environmental studies, as well as developing financing options, which will then be thoroughly inspected by the Public Utility Commission in Nevada. The actual planning and construction of the solar-thermal power plant can then begin.

Michael Yackira also points out: "NV Energy is very much interested in thermal storage technology. Our company wants to remain at the forefront of utilizing renewable energies, which also makes it very important for us to participate in this project for the benefit of our customers and the environment."

About Solar Millennium AG:
Solar Millennium AG, Erlangen, is a globally active company in the renewable energy sector, with its main focus on solar-thermal power plants. Together with its subsidiaries, the company specializes in parabolic trough power plants - a reliable, proven technology in which the company is a worldwide leader. The company covers all important business sectors of the value-added chain for solar-thermal power plants, from project development to technology and the turn-key construction of power plants, to the operation and ownership of power plants. Solar Millennium, together with partners, has developed and implemented the first European parabolic trough power plants in Spain. Further projects with a capacity of over 2,000 megawatts are in the planning stage worldwide. Regional focus is currently on Spain, the USA, China and North Africa. Furthermore, the company aims to achieve market readiness for the so-called Blue Tower technology - the generation of hydrogen-rich product gas during the recycling of regenerative waste - and, in the long-term, also for solar chimney power plants. Solar Millennium LLC, with its headquarters in Berkeley, California, is a 100% subsidiary of Solar Millennium AG for project development in the USA. More information at www.SolarMillennium.de.

About NV Energy, Inc.:
NV Energy, Inc. with headquarters in Las Vegas, Nevada, is a holding company whose principal subsidiaries are the Nevada Power Company and the Sierra Pacific Power Company. The energy supplier supplies a 54,500-square-mile territory in Nevada and north-east California with energy, and provides a wide range of energy services and products to approximately 2.4 million citizens as well as approximately 40 million tourists annually. More information at www.nvenergy.com

About MAN Ferrostaal:
MAN Ferrostaal Inc. represents the interests of MAN Ferrostaal AG in North America. MAN Ferrostaal is a global provider of industrial services in plant construction and engineering. As a general contractor in plant construction, the company offers project development, project management and financial planning for turnkey installations, including solar power stations, biofuels, petrochemical and industrial plant. MAN Ferrostaal operates as an independent sales and service partner in the automotive, printing and packaging machinery, piping and marine construction sectors, employing around 4,200 people in 60 different countries. In 2008, its annual turnover amounted to more than 1.7 billion euros. MAN Ferrostaal is a subgroup of the Munich-based company, MAN Aktiengesellschaft. Currently, the International Petroleum Investment Company of Abu Dhabi (IPIC) is taking over 70% of the shares of MAN Ferrostaal AG, Essen, from MAN AG, Munich. The German industrial group MAN will stay invested as a shareholder maintaining 30%. A Share Purchase agreement between the two companies was signed accordingly. The effectiveness of the purchase (closing) depends on the agreement of international antitrust authorities and is expected for March 2009. More information at www.manferrostaal.com.

About the technology:
Solar thermal power plants generate electricity using heat energy captured from solar radiation. In a parabolic trough power plant, trough-shaped mirrors concentrate the sun's rays onto a pipe in the focal line of the collector. Their absorption causes a heat transfer fluid to be heated in the pipe, generating steam in the power block by way of heat exchange. As with conventional power stations, the steam is utilized in a turbine to generate electricity. Integration of a thermal storage system means that availability of the electricity can be scheduled. Thus, solar power plants can also generate electricity after sunset.

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