BGR Energy is close to finalising a deal for getting into the solar power industry, with Flagsol GmbH, a subsidiary of Solar Millennium of Germany.Indian partner will hold 60 per cent stake in the joint venture that would be created.
The joint venture is looking at setting up a 50-MW concentrated solar power (CSP) plant in Rajasthan. The plant of that size would call for an investment of about Rs 650 crore. Solar Millennium is a well-known name in the solar thermal industry, and is the company that put up the first CSP plant in Europe (at Andasol in Spain). Flagsol GmbH is a joint venture between Solar Millennium AG (74.9 per cent) and another company called Ferrostaal AG (25.1 per cent). Based in Cologne, Germany, Flagsol provides the technology for parabolic trough power plants.
