Solar Millennium has sold the project company for the parabolic trough power plant Andasol 3, Marquesado Solar S.L., to Solanda GmbH.

MAN Ferrostaal AG from Essen, Germany, holds 61.5% in Solanda GmbH. The remaining share of 38.5% is held by Solar Millennium.

The move has been taken in response to Spanish legislators changing the conditions for granting legally guaranteed feed-in tariffs. Amongst other requirements, evidence of the most important permissions and the procurement of key components must be provided. In addition, the ability to finance at least 50% of the investment total of the respective power plant project is required in order to pre-register the project and thus secure the feed-in tariffs.

The entry of MAN Ferrostaal into the project secures the scheduled construction progress of Andasol 3, according to Solar Millenium.

After registration with the authorities, which is expected to take place by the end of September for Andasol 3, the full feed-in tariffs will be guaranteed provided that the power plant is connected to the grid within the following 36 months.

Read more: Solar Millennium