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Siemens activity with the Arava Power Company provides momentum for Israel’s solar industry

By: Mickey Chesla, Blog Manager

Siemens Concentrated Solar Power Ltd. built Israel’s first solar energy field that the Arava Power Company (the Israeli market leader in solar power plants) at Kibbutz Ketura last summer. Siemens AG (DAX: SI; NYSE: SIE) also acquired 37% of Arava Power for $15 million in 2009. Siemens acquired 100% of Solel Solar for $418 million in the same year.

According to a report in Globes, Siemens Israel CEO Eliezer Tokman said that the construction of the solar field and the planning for Arava Power’s future fields have already created local expertise. “…we’ve built here a world-class center. Our people have been asked to carry out projects for Siemens companies in other countries.”

Siemens Solar Thermal Energy’s staff has grown from 380 people in 2009 to 500 today, including 200 engineers. The field is made up of 18,500 photovoltaic panels.  Siemens now hopes to win the Ashelim thermosolar tender, and if it does, the win will guarantee hundreds of jobs.  The plant also received a visit by German Presideny Christian Wulff.

According to a report in No Camels, Arava CEO Jon Cohen commented on the project: “The large field in Ketura constitutes a historical landmark in the local solar industry and will turnIsraelinto a country that benefits from a significant production of electricity from solar energy.”

For the full Globes article click here

For the article in “NoCamels” on the Arava solar facility click here

    Energy, Investment, Solar Energy
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