Siemens Makes a Comprehensive Investment in the Rapidly Growing Israeli PV Market.
Siemens goes big in Israel and buys 40% stake in Israeli Arava Power Company (APC), one of the leading PV developers in the Middle East
German industrial giant Siemens signed a 15 million USD investment agreement with Israeli solar power company Arava Power in August 2009 at Kibbutz Ketura in the Negev and Arava Region.
The agreement gives Siemens a 40-percent stake in the company, with the controlling 60% remaining in the hands of the local Israeli firm. It is the largest-ever foreign investment in a local PV development company in Israel.
In the agreement, Siemens has committed to providing the technology and project management for future solar fields projects. Israeli Arava Power has already reached agreements with a number of kibbutzim in the Negev and Arava regions to utilize their lands for solar fields. These regions are particularly promising due to the unique climate conditions. The Negev and Arava regions are expediently gaining the nickname “Solar Valley” resembling the renowned “Silicon Valley” in the US.
APC is also the first to have a commercial license to produce electricity from solar energy. While solar energy is widely used to heat water, Siemens’ investment will help Arava Power make strides in harnessing the sun to make electricity.
APC has focused its efforts since its inception in 2006 on laying the regulatory and financial groundwork for solar fields. Once the feed-in tariff for medium sized photovoltaic (PV) plants of up to 5 MW is approved by the government (The government is expected to approve a 29Euro Cent tariff in the near future, while the Israeli government has already set a goal of 10% of its energy coming from renewable sources by 2020), APC should be well situated to start building and operating solar fields to provide electricity to the national grid.
"Israel is an ideal place to develop our solar business because of its intense sunlight, and its constant demand for energy. This investment will enable construction of commercial solar fields in Israel from the Dead Sea to the Red Sea for the first time," Peter Löscher, president and CEO of Siemens said to the Jerusalem Post. Yosef Abramowitz, president of Arava Power insists in an interview to the Globes: “this is not an exit. Arava Power is not a High-Tech or Start-Up company looking to be sold.” According to all parameters APC is a long term player in the Israeli PV market, now strengthened by the comprehensive injection of funds from the German Giant.
"This is the most comprehensive investment in an Israeli solar power company so far," Johannes Schmidt, CEO of Siemens Financial Services, added to the Jerusalem Post, "Because of its early entry and wide activities in the field, APC has become the leading PV Company in Israel. Siemens will support the local solar projects with our variety of technologies, professional expertise, and funding capabilities." Drawing substantial foreign investment is an indication that others beyond Israel's borders see serious potential in the country'sdomestic market.
An exhibit on "Jewish Energy" will be displayed at the International Exhibition and Conference for Renewable Energy and Energy Efficiency - EnergyTech, by Mr. Shmuel Levin, architect for Or Avner - Chabad.
Renewable Energy and Energy Efficiency Professional Convene at EnergyTech 2011 (4:27 PM, 08/28/2011)
On 21st and 22nd of September 2011, 2nd International Exhibition and Conference for Renewable Energy & Energy Efficiency – EnergyTech, will open its doors at Israel Trade Fairs & Convention Center (Ganei Taaruha) for professional audience and end customers.
Advice Electronics Ltd. registers to EnergyTech (11:46 PM, 05/15/2010)
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Ketura Sun - the first commercial solar field in Israel (10:58 AM, 09/02/2011)
With Ketura Sun, Arava Power Company has set a precedent for the solar industry both in Israel and around the world by building a solar field with a neshama (a soul).
Suntech's new 300W Vd Series Solar Module Achieves Up To 15.5% Conversion Efficiency (10:50 AM, 09/02/2011)
Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, unveiled the Suntech 300W Vd series, a new generation high-efficiency solar module, for Israel, available immediately.
Suntech Panels Power Israel’s First Large Scale Solar Array (3:47 PM, 06/26/2011)
Suntech Power Holdings Co., Ltd. (NYSE: STP) delivered 18500 solar modules to Ketura Sun, Israel’s first solar plant, a 4.95MW photovoltaic array in the Negev desert.
EnergyTech Exhibition and Conference for Alternative Energy Sources, Renewable Energy, Photovoltaics, Solar Thermal, BIPV, Wind Energy, Energy Efficiency, Bio Fuel, Bio Gas, Green Building, Solar Energy
Traditionally (since 1978) specializing in the Israeli Market on UPS, power supply and communications solutions Advice enters the PV market and chooses to exhibit, with its German partners Deihl Ako GmbH and Solare Datensysteme GmbH, at EnergyTech
Suntech Power Holdings Co., Ltd. (NYSE: STP) delivered 18500 solar modules to Ketura Sun, Israel’s first solar plant, a 4.95MW photovoltaic array in the Negev desert.
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