Acwa mulls buying the concentrating solar power business from German firm Schott Solar, the Süddeutsche Zeitung newspaper says, citing industry sources.
It would be another acquisition of parts of Germany’s ailing solar energy industry. Recently, US investor Kawa Capital Management bought great parts of PV maker Conergy, while Korean conglomerate Hanwha last year bought much of former German solar giant Q Cells.
Schott AG may welcome a partner for its concentrated solar thermal power business, German news agency dpa-AFX reported on Wednesday, citing spokesman Klaus Hofmann.
The spokesman refused to be drawn on a report in daily Sueddeutsche Zeitung suggesting Saudi water and power project developer Acwa Power is interested in acquiring Schott Solar’s concentrating solar power operations.
Schott would be willing to further develop concentrated solar power (CSP) technology in cooperation with partners as the company sees potential in the solar-thermal market, Hofmann was cited as saying.
Schott Solar’s solar-thermal division has 230 employees and manufactures receiver tubes for solar-thermal power plants using parabolic trough technology.
Schott Solar has been supplying most of the receiver tubes at parabolic-through Concentrating Solar Power (CSP) plants globally, alongside Siemens, which is set to exit the solar business.