Siemens to sell solar technology to Spanish Rioglass

Sep 18, 2013 - German engineering conglomerate Siemens (ETR:SIE) will sell some solar assets to Spanish Rioglass Solar SA.

The sale of the receiver technology and related manufacturing assets is a further step in the divestment of the German group's solar assets, which Siemens decided to offload last autumn.

Rioglass, a company manufacturing CSP mirrors used in solar power plants, expressed satisfaction about the expansion of its range of sector-related products. The company will now be able to provide two of the main components of parabolic trough technology, mirrors and receivers, as well as reflectors for CSP Tower, Fresnel and Stirling Dish technologies, according to a statement published on Wednesday.

The transaction is subject to approval by the relevant authorities.

No financial details were disclosed.

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