Solar Trust

Solar Trust of America, a U.S. joint venture of German-based companies Solar Millennium AG (XETRA: S2M.DE) and Ferrostaal AG, said today it will form a joint venture with German-based SolarHybrid AG to develop, build and manage utility-scale solar projects in North America.

Yesterday’s market selloff took a broad swipe across all sectors, with the solar stocks being the hardest hit among green sectors. The E•B Solar subindex lost 6.61 percent yesterday, compared the overall E•B Solar Clean 100 (down 2.98 percent), the S&P 500 Index (down 1.62 percent), the Dow Jones Industrial Average (down 1.59 percent) and the NASDAQ composite (down 1.95 percent). European exchanges were down slightly more than U.S. markets.

Solar Millennium AG (XETRA: S2M.DE), based in Erlangen, Germany, is demonstrating a fair bit of chutzpah by taking on the $6 billion 1,000-megawatt (MW) solar power plant at Blythe, California -- the world’s largest -- plus pursuing five additional solar projects in California and Nevada totaling another 1,000 MW.