Monday, March 10, 2008

Solar Roundup

What follows is a selection of recent stories and links related to the solar industry in Israel.

Arava planning $2.5 billion solar power station

An international project management firm recently signed a memorandum of understanding for construction of a $2.5 billion solar power station in the Eilot Region in the Arava desert. The project, which is expected to develop over a five-year period, involves installation of photovoltaic (PV) panels that will eventually supply up to 500 megawatts of electricity. The agreement was signed by the Arava Power Company of Kibbutz Ketura located in the southern Arava.

SolarPower raises $1.1m

Photovoltaic energy system integration company SolarPower Israel has raised $1.1 million at a company value of a few million dollars from Precede Technologies and Rosenram Development Ltd. The company plans to use the funding to expand its business in Israel and internationally.

SolarPower co-CEOs Avinoam Levy and Alon Tamari founded the company in 2003. The company anticipates rapid growth in Israel's photovoltaic energy market following an update to the Electricity Regulations to allow the government to buy electricity generated by solar energy systems installed at businesses, commercial enterprises, and private homes at nearly four times the rate of electricity generated by usual means.

IEC wants to bid on Negev solar plant

Israel Electric Corporation (IEC) is seeking to participate in the tender for the construction and operation of the solar power plant to be built at Ashalim in the Negev. IEC wants to be a sub-contractor, providing planning, management, and construction services for one of the consortia that will participate in the tender. IEC has begun negotiations to this end with Solel Solar Systems Ltd..