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SOLON SE joins Siemens and other European Giants
Posted by Budyansky (budyansky) on 12-10-2009
Business News >> Business news

SOLON SE joins Siemens and other European Giants with
its own investment in the Israeli PV market.

SOLON SE and Pretium Renewable energy come to an agreement offering
SOLON SE a golden opportunity in the rapidly growing Israeli PV market.
The initial projects to be implemented by 2010

SOLON SE, one of the largest solar module manufacturers in Europe and a supplier of
solar power plants, has signed an agreement with Israeli company Pretium Renewable
Energy Ltd. Pretium Renewable Energy Ltd. is part of the Pretium Group Ltd., an Israeli
investment and business development enterprise. The agreement defines the
cooperation of SOLON SE in the Israeli photovoltaic market. This strategic move is
intended to capitalize on the attractive feed-in tariffs for Solarfield power plants that are
expected to be introduced shortly. The agreement with Pretium - a locally established
partner with outstanding connections - puts SOLON in an excellent position to move
into the Israeli market for large-scale greenfield installations.

Under the said agreement, the two companies will jointly develop and implement largescale
Solarfield installations, predominantly in the southern part of the country (Mainly
in the Negev and the Arava regions). Pretium will be in charge of local project
development and financing, and SOLON will carry out construction of the turnkey power
plants in Israel. Various locations are already being evaluated, with implementation of
the initial projects expected for 2010. SOLON Single Axis photovoltaic tracking systems
will be primarily used at the new installations. This unique product is particularly suited
to erecting large-scale power plants on level sites under the geographic conditions in
Israel.

Pretium will represent and promote Solon's EPC services in Israel and together the
parties will offer a unique one-stop-shop solution for renewable energy investors willing
to participate in the Israeli PV market.

The expected expansion of the existing feed-in tariff opens up major market potential in
Israel. The existing tariff that applies to installations up to 50KWp for rooftop
installations, is to be extended to large-scale Solarfield installations with an installed
capacity of up to 5 MWp. The feed-in tariff as forecasts estimate, will stand on 28 Euro
cents.

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Last changed: 27-11-2009 at 7:08 PM

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