The German blog and news site Cleanthinking.de published a few days ago an interesting story about Solar Millenium (ETR:S2M) from Erlangen, Germany. The company is probably not as well known as First Solar (NYSE:FSLR) among green investors but this might soon change.
Solar Millennium AG is one of the companies involved with the Desertec Industrial Initiative for the construction of solar-thermal power plants in North Africa. The goal of the project is to produce as much as 15 percent of the European power in solar-thermal power plants in North Africa by 2050. The electricity would be transferred to Central Europe via high voltage direct current (HVDC) with hardly any loss.
Solar Millennium will be represented at the foundation conference of the Desertec Industrial Initiative in Munich, Germany on 13 July.
According to Cleanthinking.de, Solar Millennium AG might well be one of the companies most profiting of Desertec. The technological know-how of the company can clearly be seen in Andasol 1, the first parabolic trough power plant in Europe. Andasol 1 is a solar-thermal power plant in south Spain. It will supply up to 200,000 people with electricity and save about 149,000 tons of carbon dioxide per year compared with a modern coal power plant.
At the moment, Solar Millennium is quoted at 23.40 € (XETRA).