Abengoa's subsidiary Rioglass has bought Siemens CSP assets

Published on: Wednesday, 18 September 2013
Abengoa's subsidiary Rioglass has bought Siemens CSP assets

Abengoa has finally bought Siemens' Concentrated Solar Power assets through its subsidiary Rioglass Solar, CSP World has learnt. Thus, Abengoa will incorporate the heat collector elements -also known as tubes or receivers- to its portfolio.

The Spain based company will be able to provide a key component for parabolic trough CSP plants. This goes in line with the 'Abengoa style'; the company seeks to build, own and operate the plants, as well as provide most of the components and works through its subsidiaries -Abener, Abeinsa, Teyma, Rioglass-, now Abengoa is a vertically integrated company capable to provide almost the entire supply chain for parabolic trough CSP plants.

Rioglass Solar, founded in 2007, provides mirrors for CSP plants, either parabolic trough, tower or Fresnel, as well as for concentrated photovoltaic (CPV). The company has two factories, in Spain and Arizona, US.

Jose Villanueva, CEO of Rioglass Solar has stated "This acquisition is an unique opportunity for Rioglass Solar to diversify its portfolio and strengthen its presence in the CSP market with a strong offer. This step underscores our commitment with this industry. We'll help our customers to face challenges in the new horizon of the renewable energy sector".

The transaction is yet to be approved by the European antimonopoly authorities.

Siemens, the provider of most of the turbines installed in CSP plants, planned to become a key player in the CSP sector by creating a company to provide the whole solar field for parabolic trough plants. Siemens bought Solel in 2009, an Israeli parabolic trough and receiver manufacturer for $418 million and created Siemens Concentrated Solar Power.

In October 2012, reported by CSP World here, Siemens announced it was leaving the solar business "due to the changed framework conditions, lower growth and strong price pressure in the solar markets". The company's expectations for its solar energy activities have not been met. "The global market for concentrated solar power has shrunk from four gigawatts to slightly more than one gigawatt today. In this environment, specialized companies will be able to maximize their strengths," said Michael Süß, member of the Managing Board of Siemens AG and CEO of the Energy Sector.

After the announcement of Siemens to leave the solar business, it was unclear if there would be some company interested in buying its CSP assets, mainly the receivers manufacturing plant in Israel. Abengoa, Avi Brenmiller -founder of Solel- sounded then like some of possible buyers.

Content tagged with: Abengoa | Siemens | Rioglass