Manfred Wächter was appointed new Chairman of the Supervisory Board of Solar Millennium Invest AG by the sole shareholder of the company, Solar Millennium AG.
Effective 15 November 2011, Manfred Wächter was appointed new Chairman of the Supervisory Board of Solar Millennium Invest AG by the sole shareholder of the company, Solar Millennium AG. The sixty-four year old management consultant Wächter is replacing Dr Christoph Wolff, who had retired from this office in October.
Solar Millennium AG (ISIN DE0007218406), Erlangen, is a company that operates globally in the renewable energy sector, with its main focus on solar power plants. Together with its subsidiaries and associates, the Company specializes in solar-thermal power plants, particularly parabolic trough plants, and has taken a global leadership position in this field.
Solar Millennium is striving to further extend its expertise in this area with the aim of achieving and securing sustainable technology leadership. The Company covers all important business sectors along the value chain for solar power plants: from project development and financing to technology and the turnkey construction and operation of power plants. Solar Millennium realized Europe’s first parabolic trough power plants in Spain as well as the first modern parabolic trough solar field in Egypt. Additional projects are planned around the world. The current regional focus is on Spain, the Middle East and North Africa.
Solar-thermal power plants generate electricity by converting solar radiation into heat energy. In a parabolic trough power plant, trough-shaped mirrors concentrate the incidental radiation onto a pipe in the focal line of the collector. Its absorption heats a fluid heat medium in the pipe, generating steam in the power block through a heat exchanger. As in conventional power plants, the steam powers a turbine to generate electricity. By integrating thermal storage, electricity can be supplied on demand, even after sunset.