Germany's SOLON Enters Solar Energy "Gold Rush" In Israel

(Sunrise over the Dead Sea taken from Israel side).

The German solar manufacturer SOLON has just signed an agreement with the Israeli investment house Pretium Renewable Energy to do business in the Israeli photovoltaic market, according to the New Energy World Network.

The move comes when many other international giants including Siemens and Veolia are investing in Israel to capitalise on the Israel’s attractive feed-in tariffs for greenfield solar power plants.

Under the cooperation agreement, reports the site, the two companies will jointly implement large-scale greenfield installations, predominantly in the southern part of the country.

Pretium will be in charge of project development and financing, and SOLON will carry out construction of the turnkey power plants. Various locations are already being evaluated, with implementation of the initial projects expected for 2010.

“At the new installations, single-axis photovoltaic tracking systems will be used primarily. These are particularly suited to erecting large-scale power plants on level sites under the geographic conditions in Israel, the company said.

Feed in tarriffs will apply to sites up to 50 megawatts in size. And a number of key investment houses in Israel, as well as large corporations like the Israel Airports Authority have plans on making money from the sunshine.

::NewNetNews