Siemens Energy takes stake in Italian solar company Archimede Solar Energy

Siemens Energy is to acquire a 28 percent stake in Italian solar company Archimede Solar Energy. ASE produces solar receivers, while Siemens manufacturers steam turbine-generators for solar thermal power plants. By combining these two technologies Siemens wants to enhance the efficiency of these plants and further reduce the production costs for solar power, according to a statement. The two companies did not disclose the purchase price of the shares.