Rioglass Solar signs further contract in South Africa

Rioglass

The NIS 70 million deal is Rioglass's third power plant project in South Africa.

Beit Shemesh-based company Rioglass Solar will provide systems for a thermo-solar power plant to be built in South Africa. This is the company's third power plant project in South Africa in the past two years, with a total value of NIS 235 million. In the current deal, totaling over NIS 70 million, Rioglass will provide the plant's receivers. Upon completion, the power plant will produce 100 mW of power for about 80,000 households. In thermo-solar stations, light rays hit giant mirrors and the collected heat is directed to the heating of a tube containing liquid (usually oil). The liquid heats and drives a turbine producing electricity.

Rioglass Solar has recently taken over the global thermo-solar system market, after acquiring Siemens' thermo-solar receiver operations in 2013. Two years later, it signed an agreement for the acquisition of company German Schott Solar, its biggest competitor and the key player in thermo-solar systems.

Rioglass Solar General Manager Onn Fening said today, "South Africa is turning into a key market for us, with an accelerated government campaign to produce 8.4 gW of solar power by 2030 and $13 billion of foreign investment in the country so far."

Published by Globes [online], Israel business news - www.globes-online.com - on July 11, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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