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SOLAR MILLENNIUM AG

2011-12-21

Solar Millennium AG closes Ibersol Fund

  • Public offer to acquire participations in Ibersol Fonds GmbH Co. KG has ended
  • Deposits have been placed on a trust account in the full amount

 

Erlangen, 21 December 2011 Solar Millennium AG (ISIN DE0007218406), Erlangen, Germany, as the issuer of and responsible party for the prospectus, has ended the public offer to acquire participations in the Ibersol Fund with effect as of 20 December 2011. To facilitate timely commissioning of the Ibersol power plant, the Company is negotiating with possible partners, the involvement of which would render continuation of the fund impossible. The generated proceeds have been deposited in full on the trust account of Ibersol Fonds GmbH & Co KG. Ibersol Fonds GmbH & Co. KG will inform the affected fund subscribers of the next steps to be taken.

About Solar Millennium AG:

Solar Millennium AG (ISIN DE0007218406), Erlangen, is a company that operates globally in the renewable energy sector, with its main focus on solar power plants. Together with its subsidiaries and associates, the Company specializes in solar-thermal power plants, particularly parabolic trough plants, and has taken a global leadership position in this field.

Solar Millennium is striving to further extend its expertise in this area with the aim of achieving and securing sustainable technology leadership. The Company covers all important business sectors along the value chain for solar power plants: from project development and financing to technology and the turnkey construction and operation of power plants. Solar Millennium realized Europe’s first parabolic trough power plants in Spain as well as the first modern parabolic trough solar field in Egypt. Additional projects are planned around the world: The current regional focus is on Spain, the Middle East and North Africa.

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.