Solel Solar Systems' share in the contract is valued at half a billion dollars.
Israeli company Solel Solar Systems, which supplies solar systems and power plants for clean energy production, announced today a collaboration agreement with Spanish infrastructures company Sacyr Vallehermoso for the construction of three solar power stations in Spain for a total output of 150 megawatts, and at a total investment of $890 million. Solar's share in the contract is valued at half a billion dollars over the next two years (2006-2008).
Solar develops and manufactures solar systems which function on unique technology which enables thermo-solar energy conduction at high temperatures of up to 400° Celsius, and its conversion into clean electricity. The company was founded on the remnants of Luz. Its R&D center is located in Beit Shemesh. To date, nine commercial power plants based on Solel's technology have been built. They are located in California and produce electricity for half a million people. The company also supplied technology to two other power stations, and solar systems for heating and air-conditioning in other countries.
This deal will boost Solel's revenue substantially. In 2004-2005 its revenue was $4 million.
Published by Globes [online], Israel business news - www.globes.co.il - on November 7, 2006
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