Solar Millennium AG strengthens its management
Erlangen 16 August 2011 The previous CFO, Oliver Blamberger, is leaving the Management Board of Solar Millennium AG at his own request and by mutual agreement. The Company has appointed Martin Löffler as the head of finance ad interim as of 1 September 2011 until the end of the fiscal year for the time being.
Helmut Pflaumer, Chairman of Solar Millennium AG’s Supervisory Board: “We would like to thank Mr. Blamberger for his untiring efforts and successful work in past years and wish him all the best in his future endeavors.”
“I am very pleased that the Supervisory Board has been able to acquire Martin Löffler with his wealth of experience as CFO”, says Dr. Christoph Wolff, the Company’s CEO. “Our solar power plants are projects worth billions of euros that also make great demands on project financing and risk management. Martin Löffler has the necessary expertise and will be a valuable addition to my team”, Wolff continues.
Martin Löffler’s (50) last position was head of finance at the agri.capital Group, a leading company in the field of energy generation from biogas. He is therefore highly familiar with the renewable energy sector. He previously held positions as CFO with the listed companies GAGFAH Group S.A. and Thiel Logistik AG. “In addition to project development and turnkey construction, project financing is one of Solar Millennium’s core business activities”, Martin Löffler states and adds, “I am very much looking forward to my new job.”
About Solar Millennium AG:
Solar Millennium AG, Erlangen, (ISIN DE0007218406) is an international company in the renewable energy sector, with its main focus on solar-thermal power plants. Together with its subsidiaries and associates, the Company specializes in parabolic trough power plants and has managed to take a globally leading position in this field. Solar Millennium strives to further extend its expertise in the area of solar-thermal power plants with the aim of achieving and securing sustainable technology leadership. As such, the Company covers all important business sectors along the value chain for solar-thermal power plants: from project development and financing to the technology and the turnkey construction and operation of power plants. In Spain, Solar Millennium developed Europe's first parabolic trough power plants and realized these together with partners. Additional projects are planned around the world with an overall capacity of more than 2,000 megawatts: here the current regional focus is on Spain, the US, the Middle East and North Africa.
About the 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.