Solel

Solel Solar Systems Ltd. was an Israeli solar-energy technology company headquartered in Beit Shemesh. The company designed and manufactured equipment for solar-thermal power plants, particularly concentrating solar power facilities that used the sun's heat to generate steam and drive electricity-producing turbines. Its work was associated with parabolic-trough technology, in which long, curved mirrors concentrate sunlight onto a receiver tube carrying a heat-transfer fluid. Solel operated during a period when large-scale solar-thermal generation was being promoted as a way to produce utility electricity with lower direct carbon emissions than conventional fossil-fuel generation. The company's business was therefore focused less on consumer solar products than on industrial equipment, project supply, and participation in major power-generation developments. Its activities connected Israeli engineering and manufacturing capabilities with international utility and infrastructure projects. In 2007, Solel entered into an agreement with Pacific Gas & Electric to supply 553 megawatts associated with the planned Mojave Solar Park in California. The project was subsequently cancelled in 2011, illustrating the commercial and development risks affecting large concentrating-solar projects. Solel also worked with Spain's Valoriza Energía on a proposed parabolic-trough facility. After three years of construction, one of the project's originally planned three 50-megawatt units began operating in December 2011. A major corporate turning point came in October 2009, when Siemens signed an agreement valued at $418 million to acquire Solel Solar Systems. As part of the transaction, Siemens committed to retain the company's headquarters and some manufacturing operations in Israel for at least five years. Under Siemens, Solel became part of a larger industrial group at a time when the economics of solar generation were changing rapidly. The competitive environment worsened as photovoltaic electricity prices declined. Three years after the acquisition, Siemens announced plans to sell the subsidiary, but did not find a buyer. In 2013, Siemens abandoned its solar business, marking the end of Solel's operation as an active Siemens solar subsidiary. The available reference material does not identify a subsequent independent owner, continuing product business, or later corporate successor. Solel is therefore best treated as a defunct Israeli solar-thermal equipment brand rather than as an active energy company.

Solel Solar Systems Ltd. was an Israeli solar-thermal technology company based in Beit Shemesh. Its business centered on equipment for concentrating solar power plants, especially parabolic-trough systems. These facilities use mirrors to concentrate sunlight, capture heat, produce steam, and operate electrical generators. The company pursued international utility-scale projects as solar-thermal power was being developed as a renewable alternative for large electricity markets. In 2007, Solel signed a contract with Pacific Gas & Electric related to the planned 553-megawatt Mojave Solar Park in California. The development did not proceed and was cancelled in 2011. Solel also entered a joint venture with Spain's Valoriza Energía to develop a parabolic-trough plant in Spain. Construction lasted three years, and in December 2011 one of the originally planned three 50-megawatt units began operation. The available reference does not establish the later operating history of the full project or the continuing role of Solel. In October 2009, Siemens agreed to acquire Solel Solar Systems for $418 million. Siemens also committed to keeping Solel's headquarters and some manufacturing facilities in Israel for a minimum of five years. The acquisition placed the Israeli solar-thermal specialist inside a major international industrial group. The business later faced a difficult market environment, particularly as photovoltaic generation prices fell. In 2012, Siemens announced that it intended to sell the solar subsidiary, but no buyer was found. In 2013, Siemens gave up its solar business. No reliable source in the supplied material identifies a later owner, revival, or active successor for Solel, so the brand is classified as defunct.

• 2013

  Siemens abandons solar business

  [1]Solelen.wikipedia.org

  After failing to sell the subsidiary, Siemens withdrew from the solar business.

• 2012

  Siemens seeks a buyer

  [1]Solelen.wikipedia.org

  Siemens announced plans to sell its solar subsidiary in response to difficult market conditions and falling photovoltaic power prices.

• 2011

  Spanish project begins partial operation

  [1]Solelen.wikipedia.org

  One of three originally planned 50-megawatt units at the company's Spanish parabolic-trough project began operating in December after three years of construction.

• 2011

  Mojave project cancelled

  [1]Solelen.wikipedia.org

  The planned Mojave Solar Park associated with Solel's 2007 agreement was cancelled.

• 2009

  Acquisition agreement with Siemens

  [1]Solelen.wikipedia.org

  Siemens signed a $418 million agreement to acquire Solel Solar Systems and committed to retain its Israeli headquarters and some manufacturing facilities for at least five years.

• 2007

  Mojave Solar Park supply agreement

  [1]Solelen.wikipedia.org

  Solel signed a contract with Pacific Gas & Electric connected with supplying 553 megawatts for the planned Mojave Solar Park in California.

Industrial solar-thermal technology provider focused on equipment and project participation for utility-scale concentrating solar power plants.

• Concentrating solar power equipment

  Parabolic-trough solar-thermal systems

  Solel's core offering was equipment and engineering for parabolic-trough concentrating solar power plants. Such systems use rows of curved mirrors to focus sunlight onto receiver tubes, heating a working fluid that can be used to create steam and generate electricity. The offering was aimed at large industrial and utility projects rather than household solar installations.

• 2012

  Planned divestment of solar subsidiaryStrategy

  Background

  Solar markets were under pressure, including from falling prices for photovoltaic electricity generation.

  Action taken

  Siemens announced plans to sell the subsidiary containing its solar business.

  Aftermath

  The sale did not succeed, and Siemens abandoned its solar business in 2013.

  Source

• 2009

  Siemens acquisition of SolelM&A

  Background

  Solel was an Israeli solar-thermal equipment specialist with international project ambitions.

  Action taken

  Siemens signed a $418 million agreement to acquire Solel Solar Systems and pledged to retain its Israeli headquarters and some manufacturing facilities for at least five years.

  Aftermath

  Solel became part of Siemens' solar activities, but Siemens later sought to sell the subsidiary and ultimately exited the solar business in 2013.

  Acquisition agreement value. $418 million (2009)

  Source

1. 1Solelen.wikipedia.org