On October 15, 2009
Siemens Acquisition Values Solar Thermal Tech at $418M
Solel, a solar thermal company that has mainly been active in Europe, has a new owner: Siemens, a German conglomerate most recognized in cleantech for its wind turbines. The $418 million acquisition marks the first time that a major solar thermal player has been picked up by another company, and offers some clues about what the technology is worth that may be useful if a competitor like Brightsource Energy or eSolar holds an initial public offering. All of these solar thermal companies operate on the same basic idea of concentrating the sun’s energy with mirrors onto a contained fluid, which produces enough steam to run a generator. The technology works best at large scale, so utilities and factory owners are…
0 Comments