Siemens Raises Stake In Archimede Solar Energy

Siemens Energy has increased its stake in solar thermal specialist Archimede Solar Energy SRL, a joint venture between Angelantoni Industries SPA and Siemens, from 28% to 45%, effective May 1. The purchase price of the shares was not disclosed.

The objective of the investment is to accelerate the setup of solar receiver production in Massa Martana, Umbria, Siemens says. Beginning in early 2011, the plant will have an annual production capacity of approximately 75,000 solar receivers. The plant's capacity will then be increased to 140,000 units per year.

SOURCE: Siemens Energy


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