Siemens Strengthens Solar Thermal Power Business by Acquiring Solel Solar Systems Ltd.

Siemens AG is to acquire the solar thermal power company Solel Solar Systems Ltd., Isreal, for about $ 418 million from Ecofin Ltd., a London-based investment firm, and another unnamed majority shareholder.
Solel Solar Systems has a workforce of over 500 and is one of the world’s two leading suppliers of solar receivers, which are key components of so-called parabolic trough power plants.  The company is also leader in the planning and construction of solar fields.
The transaction is subject to approval by the competent authorities. Closing is anticipated to take place before the end of the year.
Source: Siemens AG

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