Solel to add solar facilities in Spain

The Beit Shemesh-based firm will manufacture components for solar thermal power fields.

2 April 08 13:57, Globes' correspondent

Solar energy systems maker Solel Solar Systems Ltd. is setting up a factory in Andalusia, Spain, to manufacture components for solar thermal power fields. Investment in the plant will total $140 million.

The new factory will be a one-stop-shop, which will have production lines for the manufacture of all essential components for the building of solar thermal power fields, including Solel Solar's "Solel 6" parabolic trough collector, which better exploits solar energy than earlier receptors. Construction of the factory will begin this year and be completed in 2011, and will have 350 employees. Some production lines will begin operating in 2009.

Solel Solar CEO Avi Brenmiller presented the industrial strategy to President of the Autonomous Government of Andalusia Manuel Chaves, the President of the Andalusia Parliament and other dignitaries.

Beit Shemesh-based Solel Solar entered the Spanish market two years ago, providing the core technology for three solar power stations that will generate an aggregate 150 megawatts of electricity. The power stations are being built by Actividades de Construccion y Servicios SA (ACS) (Madrid; XETRA: ACS; Bulletin Board: ACSAF), and Aries Termotechnica.

Electricity generated by Solel Solar's solar thermal technology in the Spanish project will cost €0.30 per kilowatt/hour. The Spanish government will subsidize the rate for 25 years in order to diversify the country's energy sources, encourage the construction of environmentally friendly power stations, and support local electricity production.

Published by Globes [online], Israel business news - www.globes-online.com - on April 2, 2008

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