Siemens Makes another large scale investment in Israel.
The German industrial Giant purchased in mid October the Israeli company “Solel” who specializes in Thermo-Solar energy. Thus Siemens has a stake in investments in both Solar technologies in Israel.
The German industrial giant Siemens continues to invest in Israel. Two months ago, Siemens purchased 40% of Arava Power, a company specializing in PV technology with permits to construct in kibbutzim in the Arava region. Last week, Siemens completed a buyout of “Solel”’s. To date, the majority stake has been held by Ecofin Ltd., a London-based investment firm, and another major shareholder.
Peter Löscher, Siemens President and CEO claimed “After the rapid and highly successful expansion of our wind power business, we now want to continue this success story in the solar sector. With the acquisition of Solel, Siemens can now strengthen its market position in the promising business of solar thermal power plants.”
Solel Solar Systems Ltd. Is the world leader in developing and implanting Thermo Solar technology for converting sunshine into useful thermal energy, and subsequently into electricity. Solel’s unique solutions set the global standard for solar plants and thermal receivers. Solel’s goal is to assist the private and public sectors in reducing reliance on fossil fuel by supplying clean renewable energy at a competitive price.
Today, Solel employs 500 employees in Israel, Spain and the West Coast of the US and is considered one of the two leading global suppliers of solar receivers. Solel was founded in 1992 and in the 2009 half-year report reported a 90 million USD profit.
Due to the sale to Siemens, Solel will transform into a Siemens sub-company and be an autonomous profit unit under Siemens’ renewable energy division company with its own budget. Solel’s flag project is in Spain, where it is constructing a 50MWp thermo-solar plant – the largest capacity possible under Spanish regulations.
Solel’s CEO, Avi Brenmiller says that the plant will be operable in 2011. The contract for the plant is set for 25 years, as accepted in Spain with Solel will be a partner to the selling of the electricity generated.
The investment in the project is 300 million USD, most of which is funded by a banking body and 10-20% is funded by Solel and its Spanish counterpart.
“It was impossible for us to grow any longer on our own” admit Solel CEO and shareholder, Avi Brenmiller to ‘Globes’. “Siemens found it difficult to expand in the thermo-solar industry without proper technology, therefore the combination of technologies is a win-win situation all around. After an adaptation period, over the span of the next three to four years, Solel’s activity will grow exponentially in comparison to today.”
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)
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
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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