Solar Millennium unit, Orascom Construction open solar-thermal plant in Egypt

(ADPnews) - Dec 29, 2010 - German solar-thermal firm Solar Millenium AG (ETR:S2M) last week said its 74.9%-owned unit Flagsol opened a solar-thermal plant in Egypt in partnership with Egyptian Orascom Construction Industries (CAI:OCIC).

The solar park is part of a 150 MW hybrid power plant, which will produce electricity from solar power and natural gas.

As part of its cooperation with the Egyptian constructor, Flagsol has designed the solar-thermal field and supplied the main technology including parabolic mirrors and absorber pipes.

The solar-thermal plant includes 2,000 parabolic trough collectors covering 130,000 sq m (1.4m sq ft) of land in Kuraymat. The site will benefit from more than 2,400 kWh of solar irradiation per square metre and year on average, according to Solar Millenium.

The Global Environmental Facility (GEF) has granted USD 50 million (EUR 37.9m) grant for the solar field.

Egypt's National Renewable Energy Authority (NREA) has contracted Flagsol and Orascom for the solar plant in an international tender for the hybrid power plant's development. The project required EUR 250 million (USD 329.8m) investment.

The power plant is scheduled to start producing energy in early 2011. Flagsol and Orascom will operate the solar-thermal plant two years before handing it over to NREA.

Flagsol's other shareholder is German construction and engineering firm Ferrostaal AG.

(USD 1 = EUR 0.758)

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