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Israeli Oil Company Paz Launches Solar Energy Venture Today

We told you things are heating up with the solar energy market in Israel. Will the country be a light unto the nations in the Middle East, and practice what it preaches in solar tech innovation, by turning the endless power from the sun into solar energy?

The Israeli oil company Paz, which owns a chain of gas stations around the country, announced today that it will join the solar energy market.

They’ve created a new business unit called Paz Solar to market and install photovoltaic energy systems for producing electricity using photovoltaic technologies, according to Globes.

At a press conference today the company said that it plans on leading the solar energy market in Israel, an ambitious plan perhaps now that foreign companies like SunEdison, with more experience in solar power, have already started moving in. Paz says they will lead based on equipment they provide and the amount of power they will produce. And the focus will remain in Israel.

“We are a country with 7.2 million people and if we add the energy sector in Judea, Samaria and Gaza we will reach 10 million residents. That is not a small country but a medium-sized country. Israel is our main target but if there will be interesting opportunities abroad we will consider them,” Paz chairman Zadik Bino.

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Author: Karin Kloosterman

Karin Kloosterman is an award-winning journalist, innovation strategist, and founder of Green Prophet, one of the Middle East’s pioneering sustainability platforms. She has ranked in the Top 10 of Verizon innovation competitions, participated in NASA-linked challenges, and spoken worldwide on climate, food security, and future resilience. With an IoT technology patent, features in Canada’s National Post, and leadership inside teams building next-generation agricultural and planetary systems — including Mars-farming concepts — Karin operates at the intersection of storytelling, science, and systems change. She doesn’t report on the future – she helps design it. Reach out directly to [email protected]

About Karin Kloosterman

Karin Kloosterman is an award-winning journalist, innovation strategist, and founder of Green Prophet, one of the Middle East’s pioneering sustainability platforms. She has ranked in the Top 10 of Verizon innovation competitions, participated in NASA-linked challenges, and spoken worldwide on climate, food security, and future resilience. With an IoT technology patent, features in Canada’s National Post, and leadership inside teams building next-generation agricultural and planetary systems — including Mars-farming concepts — Karin operates at the intersection of storytelling, science, and systems change. She doesn’t report on the future – she helps design it. Reach out directly to [email protected]

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