Solar Millennium sells stakes of Ibersol project company

• MAN Ferrostaal and Ibersol Kraftwerks GmbH invest in Spanish solar power plant project
• Full feed-in tariff guaranteed, provided that the plant is completed within 48 months - start of construction scheduled for 2010
• Fourth power plant project an important milestone and continued evidence of Solar Millennium's growth strategy

Erlangen, 18 November 2009 On 30 October 2009, Solar Millennium AG, Erlangen, (ISIN DE0007218406) sold Ibersol Electricidad Solar Ibérica S.L., the project company for the Ibersol parabolic trough power plant, to MAN Ferrostaal AG, Essen, and Ibersol Kraftwerks GmbH, Erlangen. Each compa-ny acquired 50 percent. The sales were subject to board approvals and certain conditions, which were met not until yesterday evening. Ibersol Kraftwerks GmbH is equally owned by Solar Millennium and the holding company Cross Capital AG, Zug (Switzerland).

The project, which was granted pre-registration on 11 November, will now be expedited with the help of the partners. The acquisition price was not disclosed. Pre-registration is a re-quirement for the statutorily guaranteed feed-in tariff to be granted. Entry into the register assures receipt of the full feed-in tariff, provided that the power plant is completed within the next 48 months.

Ibersol is the fourth 50 MW parabolic trough power plant developed by Solar Millennium in the South of Spain. It will be built in the Spanish province Extremadura and will cover approximately 2 square kilometers. Thermal storage allows for electricity production on demand, even after sunset. In the region of Andalusia, two identical power plants, Andasol 1 and 2, are already operating. Andasol 3, which has also been granted pre-registration, is under construction and is financed with the help of Stadtwerke München, RWE Innogy, RheinEnergie and MAN Ferrostaal. The increased investment certainty as a result of the official pre-registration allows for additional investors to get involved in the project in-line with the example set by Andasol 3. Construction is scheduled to start at the beginning of 2010.

Thomas Mayer, CFO of Solar Millennium: "As we have succeeded in involving investors in the Ibersol project as planned, we have reached another important milestone in our annual plan for the 2008/2009 fiscal year. As such, we were able to continue on our growth path over the last few months". Preliminary results for the fiscal year 2008/2009 will be published as announced in the financial calendar.

About Solar Millennium AG:
Solar Millennium AG, Erlangen, is an international company in the renewable energy sector, with its main emphasis on solar-thermal power plants. Together with its subsidiaries, the company specializes in parabolic trough power plants, a proven and reliable technology with which the Group has adopted a leading position worldwide. Solar Millennium covers all important business sectors along the value chain for solar-thermal power plants - from project development and technology to turn-key construction as well as plant operation and investments in power plants. In Spain, Solar Millennium developed Europe's first parabolic trough power plants and realized them with its partners. Additional projects are planned around the world with an overall capacity of more than 2,000 megawatts. The current regional focus is on Spain, the US, China and North Africa. Furthermore, the company has the aim of achieving market readiness for the so-called Blue Tower technology for the generation of product gas that is rich in hydrogen through the reformation of regenerative residual materials, and also for solar chimney power plants in the long run.

About solar-thermal power plant technology:
Solar-thermal power plants generate electricity by converting solar radiation into heat energy. In a parabolic trough power plant, trough-shaped mirrors concentrate the incidental radiation onto a pipe in the focal line of the collector. Its absorption heats a fluid heat medium in the pipe, generating steam in the power block through a heat exchanger. As in conventional power plants, the steam powers a turbine to generate electricity. By integrating thermal storage, electricity can be supplied on demand, even after sunset.

You can download this press release here.