German solar manufacturer SOLON to enter the Israeli market via cooperation with Pretium Renewable Energy

29th September 2009

German solar manufacturer SOLON has signed an agreement with Israeli company Pretium Renewable Energy aimed at cooperating in the Israeli photovoltaic market.

This strategic move is intended to capitalise on the feed-in tariffs for greenfield solar power plants that are expected to be introduced shortly, the company said.

Under the cooperation agreement, 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.

The announced expansion of the existing feed-in tariff for rooftop installations on large-scale greenfield installations with an installed capacity of up to 5MW opens up major market potential in Israel, according to the company which has a presence in various European locations and the US.

Pretium Renewable Energy is part of the Pretium Group, an Israeli investment and business development undertaking.

Headquartered in Berlin, SOLON’s core business is the production of solar modules and photovoltaic systems, and the construction of turnkey solar power plants around the world.

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