Solel Solar to supply main panels in Spain

The Beit Shemesh-based firm will help set up a plant in Castile-La Mancha.

Solel Solar Systems Ltd. will supply 46,000 thermosolar receptors to Aries Termoelectrica for two 50-megawatt power stations that the company is building in Castile-La Mancha. The thermosolar receptors will be delivered in August. Solel Solar did not disclose the size of the deal.

Aries Termoelectrica is a joint venture of Aries Ingenieria y Sistemas SA and the infrastructures division of Dutch bank ABN AMRO Holdings NV (NYSE; AEX; ABN) that builds renewable energy driven power stations.

Solel Solar will supply its newly launched UVAC 2008 thermosolar receptors, which will be the main component of Aries Termoelectrica's power stations. The receptors will enable Aries to increase clean power production at lower cost than other solar power stations.

Beit Shemesh-based Solel Solar has 300 employees and operates in both the US and Spain through local subsidiaries. The company's proprietary technology is currently utilized in nine commercial power stations in California with an aggregate 354 MW capacity, saving two million barrels of oil a year.

Solel Solar and Grupo Sacyr Vallehermoso SA (IBEX:SYV) are building an $800 million 150 MW project in Spain. The company is also upgrading a 100 MW project in California for FPL Energy, and will sell 553 MW to California’s PG & E Corp. (AMEX:PCG) from the $2 billion Mojave Solar Park, which is under construction and due to begin operating in 2011.

Published by Globes [online], Israel business news - - on January 9, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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