Solar Millennium and MAN Ferrostaal are jointly selling 74 percent of their 50-megawatt Andasol 3 project in Spain to Stadtwerke Munchen and a holding company created by RWE Innogy and RheinEnergie.
Before the sale, Solar Millennium and MAN Ferrostaal jointly owned 100 percent of Marquesado Solar, the company set up to develop Andasol 3. They owned Marquesado through a joint venture called Solanda.
After the sale, Stadtwerke would own 48.9 percent of Marquesado. The holding company for REW and RheinEnergie would own 25.1 percent. Solanda would keep the remaining 26 percent.
The solar thermal power plant is currently under construction in southern Spain.
Solar Millennium, based in...