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Solel Investing $25 Million To Build New Plant For Solar Receivers

Solel is increasing its manufacturing capacity to meet demand for solar energy systems and for power plants it is building in Spain.

BEIT SHEMESH, Israel - Solel Solar Systems, Ltd., a provider of solar thermal technology for central power plants, announced Tuesday that it will invest $25 million in a new facility to increase its manufacturing capacity in order to meet its customer’s demand for renewable, clean solar energy systems and recent agreements by Solel to build solar thermal power plants in Spain.
The new facility, to be built near Solel's Israeli headquarters in Beit Shemesh, will triple Solel's capacity for manufacturing its solar thermal receiver systems. The receivers will be used by Solel in power plants currently under development.
For 2006-2007, Solel has received orders for more than 100,000 receivers from power plant operators and developers in the United States and Spain, including orders for 10,000 receivers from the developers of Nevada Solar One, a solar thermal power plant scheduled to go on-line in 2006.
"Our solar thermal technology offers tremendous opportunities for reducing carbon emissions and reliance on fossil fuels," said Avi Brenmiller, CEO of Solel.
Solel Solar Systems operates in the U.S. through its subsidiary, Solel, Inc.