Solel Solar Systems To Expand Manufacturing

BEIT SHEMESH, Israel--(BUSINESS WIRE)--Solel Solar Systems, Ltd. ("Solel"), the global leader in solar thermal technology for central power plants, announced today that it is commencing a massive increase in its manufacturing capacity. The new facility, in which the company will invest $25 million, comes in response to significant increases in orders for Solel's 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 Beit Shemesh, Israel headquarters, will triple Solel's capacity for manufacturing its patented solar thermal receiver systems. These advanced receivers, the heart of the solar power plant, offer market-leading thermal efficiencies and increased annual electrical outputs, and will be employed by Solel in power plants currently under development. In addition, in 2006-2007 Solel has received orders for over 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, the solar thermal power plant scheduled to go on-line sometime this year.

"Based on the very substantial growth in awareness of the benefits of solar thermal power, we see our investment in plant capacity as both necessary and economic," said Avi Brenmiller, CEO of Solel. "Our solar thermal technology is commercially proven and competitively priced, and offers tremendous opportunities for reducing carbon emissions and reliance on fossil fuels."

About Solel Solar Systems Ltd.

Solel is the world leader in solar thermal technology for solar systems and central power plants for clean electricity. Its unrivalled solutions have set the global standard for utility solar plants as well as high temperature collectors. The Solel parabolic trough thermal technology has proven itself in California's Mojave Desert with the continuous production of 354 MW of utility scale power, helping California consumers reduce their annual oil consumption by two million barrels. In addition, Solel is building solar thermal power plants in Spain in a joint venture with Sacyr-Vallehermoso, and is providing the key technology for new solar power plants currently under construction in the U.S. and in Spain. Solel's headquarters, manufacturing plant and R&D center are in Beit Shemesh, Israel, and it operates in the U.S. through its subsidiary, Solel, Inc.

For more information please visit: www.solel.com