DGAP-News: Vorndran Mannheims Capital GmbH: MENASOL 2013: VMCap participates in discussion on the potential for Saudi CSP industry and the positive business development of portfolio company, Rioglass Solar
(firmenpresse) - DGAP-News: Vorndran Mannheims Capital GmbH / Key word(s): Private
Equity
Vorndran Mannheims Capital GmbH: MENASOL 2013: VMCap participates in
discussion on the potential for Saudi CSP industry and the positive
business development of portfolio company, Rioglass Solar
10.06.2013 / 12:24
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MENASOL 2013: VMCap participates in discussion on the potential for Saudi
CSP industry and the positive business development of portfolio company,
Rioglass Solar
- VMCap panel on 'Solar Power Financing in the Middle East' at leading
solar conference MENASOL in Dubai
- Excellent prospects of success for CSP in Saudi Arabia
- Record sales of leading manufacturer of solar reflectors and VMCap
portfolio company Rioglass Solar highlight market potential
St. Gallen/Düsseldorf - 10 June, 2013. Christian Sarwa, Investment Director
at Vorndran Mannheims Capital ('VMCap') and responsible for the
Concentrated Solar Power (CSP) sector, spoke about solar energy investment
opportunities in the Middle East and North Africa at MENASOL, the leading
solar event in the region. The investment workshop 'Solar Power Financing
in the Middle East' took place on 15 May, 2013, and was made up of
representatives from VMCap, Abengoa Solar, KfW IPEX Bank and Chadbourne&Parke. This was a unique opportunity for expert discussion on the current
developments, financial challenges and prospects for solar energy
investment in the Middle East and North Africa (MENA).
King Abdullah bin Abdulaziz' recent plan to take advantage of Saudi
Arabia's outstanding solar irradiation and attain 25 GW before 2032
underscores the investment potential of CSP in the region. 'The size of the
market is even large enough to establish an independent local CSP
industry', said Christian Sarwa. 'Reliable framework conditions set by the
Government, annual installations of more than 200 MW and cooperation with
experienced project developers and component suppliers are prerequisites
for the success of the country's CSP ambitions. Our portfolio company,
Rioglass Solar, would be well positioned to repeat its successful expansion
in the U.S. and South Africa with a local partner in Saudi Arabia.'
Rioglass Solar Holding S.A. (Rioglass Solar) is a leading global
manufacturer of solar reflectors for use in CSP plants. Rioglass Solar has
developed proprietary technology to manufacture highly efficient mirrors
for all types of CSP technology. The company's R&D activities focus on
continued enhancement of the mirrors' performance and efficiency in order
to make Rioglass Solar technology even more competitive and economically
viable.
Rioglass Solar has shown a positive business performance with new record
sales in 2012 and builds on a sound financial basis. The company has been
able to attract new customers by means of newly developed mirrors for dish
stirling systems as well as for low concentration photovoltaic modules. It
has also extended its product range by developing an innovative structure
mirror for CSP tower applications. A new production facility for the
manufacture of these structure mirrors has been built in the record time of
six months in Upington, South Africa. The plant, with around 60 employees,
started operations at the end of May 2013.
'The challenging market situation for CSP projects at present will
intensify further in 2013 which will lead to a consolidation of components
suppliers', predicts Christian Sarwa. 'Rioglass Solar will continue to
excel in this competitive environment through more innovative and highly
efficient mirror solutions for the entire CSP and concentrated photovoltaic
industry'.
About Vorndran Mannheims Capital
Vorndran Mannheims Capital, founded in 2000 under the name Ventizz Capital
Partners, has offices in St. Gallen, Zurich, Düsseldorf and Vienna. VMCap
is the exclusive advisor to the Ventizz Private Equity Funds, which provide
growth capital and buyout financing for high tech companies in Western
Europe. Five partners and a team of 14 additional professionals currently
advise four funds with a total capital under management of EUR 675m.
Ventizz Capital Fund IV L.P. is the largest of the four funds established
so far. The Fund was closed at the end of 2007 after only six months of
fundraising, during which EUR 450m were raised, making it one of the
biggest private equity funds in the segment of growth capital and mid-size
tech buyouts in the German-speaking region.
VMCap Funds have invested in 47 companies to date, with a focus on the
areas of high-tech manufacturing industries, renewable energy/clean tech,
and information and communication technology. In addition to a variety of
trade sales, VMCap has so far floated four portfolio companies (ersol, SAF,
PV Crystalox Solar and recently exceet) on European stock exchange markets.
On the internet at: www.vmcap.com
About Rioglass Solar
Rioglass Solar Holding S.A. (Rioglass Solar) is a leading manufacturer of
solar reflectors for use in CSP plants. Founded in 2007, Rioglass Solar has
developed proprietary technology to manufacture highly efficient mirrors
for all types of CSP technology. With over 240 employees and production
facilities in Asturias (Spain), Arizona (USA) and Upington (South Africa),
the company is well positioned to supply the global market in solar thermal
plants. Unlike other renewable energy sources such as photovoltaic or wind,
CSP has the distinct advantage of being able to store thermal energy. The
need for base-load capable, utility scale renewable energy sources will
drive the growth of the CSP market expected in the coming years. In 2011,
Vorndran Mannheims Capital invested together with Partners Group into the
company to support the product and geographic expansion of the company.
On the internet at: www.rioglassolar.com
Press contact:
Markus Wieser
CNC AG
T +49 (0)89 599 458-114
E Markus.Wieser(at)cnc-communications.com
End of financial news
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