German solar firm Solon SE (SOO1.DE) has signed an agreement with Israeli company Pretium Renewable Energy Ltd. aimed at cooperating in the Israeli photovoltaic market.
The strategic move is intended to capitalize on the attractive feed-in tariffs for greenfield solar power plants that are expected to be introduced shortly.
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 (Solon Single Axis) will be used primarily. Solon says these are particularly suited to erecting large-scale power plants on level sites under the geographic conditions in Israel. Pretium will also represent and promote Solon’s EPC services in Israel.
The announced expansion of the existing feed-in tariff for rooftop installations on large-scale greenfield installations with an installed capacity of up to 5 megawatts peak (MWp) opens up major market potential in Israel.
Pretium Renewable Energy Ltd. is part of the Pretium Group Ltd., an Israeli investment and business development undertaking.
Solon SE is one of the largest solar module manufacturers in Europe and a supplier of solar power plants. The Solon group is represented by subsidiaries in Germany, Austria, Italy, Switzerland and the USA and employs around 900 people globally. 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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