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Siemens planning stake in solar energy with global supplier buy-out

Siemens Energy, a subsidiary of global engineering company Siemens AG, is reportedly eyeing a 28 per cent stake in renewable energy company Archimede Solar Energy SpA, based in Italy, in a bid to expand its presence in the global solar power market.

Siemens Energy is a leading global energy provider which already offers a large range of products and services for the power distribution, transmission and generation markets.

The acquisition is likely to benefit both companies, according to an online news report from

“While Siemens stands to benefit by improving its expertise of solar power plants, Archimede will have access to capital required to boost its installed capacities. Financial details have not been disclosed,” the report said.

Archimede is currently the only manufacturer of solar receiver tubes that use molten salt as the heat-transfer fluid for application in parabolic-trough power plants, the website said.

The solar receiver tubes have been developed under a license from the Italian Government-sponsored agency for energy, environment and new technologies. Siemens is a market leader for solar-powered steam turbines and generators for use in power plants. The company plans to combine its technology with that of Archimede to improve the operational efficiency of plants and produce solar power cost effectively, said the report.

Archimede will begin building its plant to manufacture the solar receivers at the end of 2009, which should be completed by 2010.

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