Siemens Acquires Stake In Archimede Solar Energy

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Siemens Energy plans to acquire a 28% stake in Italy-based Archimede Solar Energy SpA (ASE) in order to expand its competencies for solar thermal power plants. ASE is the sole producer of solar receivers operating with molten salt as the heat transfer fluid, and Siemens provides steam turbine-generators for solar thermal power plants.

By combining these two technologies, Siemens says it will enhance the efficiency of solar plants and further reduce the production costs for solar power. The two companies did not disclose the purchase price of the shares.

‘By acquiring a stake in Archimede Solar Energy Siemens is underlining its intention to become the leading provider of solutions for solar thermal power plants,’ says Rene Umlauft, CEO of the Siemens Renewable Energy Division. ‘In the upcoming years the market for solar thermal power plants will grow at a rapid pace and the interest of our traditional customers in the energy sector in this promising future-oriented technology will increase significantly.’

SOURCE: Siemens Energy

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