Ferrostaal, the Essen-based construction and engineering group, bought a 25.1% stake in Flagsol from Solar Millennium in 2009, at a time when the global CSP sector was on the rise.

But Solar Millennium veered into bankruptcy in late last year – a victim of the financial crisis, as well as falling PV prices that have rendered CSP less competitive in some markets – leaving its administrator with the herculean task of unravelling its complex array of projects and subsidiary companies.

The