Wednesday, January 9, 2008

Solel signs landmark contract for solar receivers

Globes reports that 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, Spain. The thermosolar receivers will be delivered in August. Solel Solar did not disclose the size of the deal.

Solel Solar will supply its newly launched UVAC 2008 thermosolar receivers, 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. According to Solel Solar, the advanced technology in the UVAC 2008 will result in increased annual output of 6480 MWh and additional annual revenues of € 2.0 million at each 50 MW plant.

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 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. from the $2 billion Mojave Solar Park, which is under construction and due to begin operating in 2011.

Related Posts:

Solel awarded $2.6m grant from Spanish government

Siemens, Areva, Alstom bidding for Israeli solar firm Solel

Solel to supply Ibereolica with solar receivers

U.K.'s Ecofin buys 40% of Solel Solar Systems