Ecofin Ltd. has invested $105 million in shares of Solel Solar Systems Ltd., a company that specializes in the design, manufacture and installation of solar fields and solar-field components for large-scale power generation.
‘We are delighted to make this investment in Solel and look forward to supporting the company through a period of rapid growth,’ says Bernard Lambilliotte, Ecofin's chief investment officer. ‘The use of parabolic troughs in the creation of solar thermal power plants represents a real opportunity to develop a utility-scale solution to renewable energy.’
Solel's parabolic trough technologies have been operational since 1985 in the Mojave Desert, comprising nine solar plants that produce 354 MW of electricity per year. The company is also currently constructing 150 MW of solar thermal plants in Spain.