Providing fresh evidence that solar thermal is one of the hottest segments in green tech, Solel said on Monday that Ecofin is investing $105 million into the company. Solel makes equipment for solar thermal power plants, facilities that use the sun’s heat to create steam and turn an electricity generator. Its specialty is parabolic troughs. Thousands of troughs reflect sunlight to heat a liquid that makes steam. The company’s equipment has been in use in the Mojave Desert since 1985. Solar thermal is one of the most cost-effective forms of renewable power and is best suited for desert areas, such as the southwestern United States and parts of Spain. People in the industry say that a race is on to build out these solar power plants over the coming years to meet utilities’ demand for renewable sources of electricity. Solel, which is based in Israel, has already signed a power purchase agreement with Pacific Gas & Electric to supply a 553 megawatt plant in California, and it is in discussions with others. It is also constructing 150 megawatts of plants in Spain. In a release, it said that technology improvements have increased the efficiency […]
Tuesday, January 29th, 2008
Solar Power Plant Maker Solel Raises More than $100 Million
Author: MARTIN LAMONICA
Source: CNET.com
Publication Date: January 28, 2008 11:50 AM PST
Link: Solar Power Plant Maker Solel Raises More than $100 Million
Source: CNET.com
Publication Date: January 28, 2008 11:50 AM PST
Link: Solar Power Plant Maker Solel Raises More than $100 Million
Stephan: I thought it was very interesting that in tonight's State of the Union address, the President did not mention either solar or wind generation by name. Instead he pushed coal and nuclear. It has always struck me as very odd that one would promote nuclear power while, at the same time, fretting whether countries like Iran, which are building civilian nuclear power, may turn their technology into weapon's production. It just goes to show you who owns the administration.
