from the June 2008 issue

Solel signs second deal in Spain

Solel Solar Systems Ltd. has made its largest single sale of solar receiver technology for the supply of more than 190,000 UVAC 2008 receiver systems to Ibereolica Solar SL, a Spanish parabolic trough solar thermal plant developer. The receivers will power eight 50-megawatt solar power plants that Ibereolica is developing in southern Spain. Beit Shemesh-based Solel Solar will begin deliveries of the solar receivers in 2009.

Solel added that this was its second large contract for solar receivers this month. The combined value of the two contracts is over $250 million. Two weeks ago, the company signed a contract for the supply of 70,000 receivers to a Spanish consortium. Solel has not disclosed the name of the consortium. Solel Solar also plans to build a manufacturing facility for solar field components in Andalusia.

The UVAC 2008 provides solar power plant developers with the most advanced commercially tested technology for capturing sunlight and converting it to heat for clean power generation. Ibereolica's plants will include thermal heat storage so the heat from the solar receivers can be converted to electricity during evening hours.

Solel Solar president and CEO Avi Brenmiller said, "We are extremely proud of this very significant deal with Ibereolica, one of Spain's elite developers of clean energy. A growing number of renewable energy providers, in Spain and around the world, are choosing Solel's solar thermal technology because it is the best way to producwe maximum power from available sunshine.".

Reprinted from the Israel High-Tech & Investment Report June 2008

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