SunPower, Silicon Valley’s biggest solar panel manufacturer, announced Thursday an agreement to buy SunRay Renewable Energy, a developer of solar power plants in Europe and Israel, for $277 million.
Although based in Malta, SunRay is managed by Israelis, including CEO Yoram Amiga and Michael Barnea, Head of Legal and M&A. SunRay established a wholly-owned Israeli subsidiary, SunRay Israel Blue & White, which is working to develop 100 megawatts of solar photovoltaic projects.
Kobi Katz, the CEO of SunRay Israel, told The Marker the sale was a vote of confidence by SunPower in the Israeli solar market.
Shai Agassi (left) and the team at Better Place have done it again: almost two years to the day after announcing its first car partnership and its first country deployment in Israel, Better Place today announced that it has signed an agreement with an HSBC-led investor consortium for new equity financing of $350 million. The deal marks one of the largest clean-tech investments in history and values Better Place at $1.25 billion.
As part of the deal, Kevin Adeson, HSBC Head of Global Capital Financing, will join the Better Place Board of Directors, and HSBC will own approximately 10% of the company’s shares. (more…)
HelioFocus announced the investment last week at the Weizmann Institute of Science in Rehovot, Israel, where HelioFocus is developing its solar thermal technology to boost electricity production of existing power plants.
HelioFocus CEO Ory Zik said Sanhua, the Chinese maker of appliance components whose stock is traded on the Shenzhen stock exchange, would be not just a financial investor in the company, but will also produce some solar thermal components.
An old Israeli joke describes how God led Moses through the desert to the Holy Land for 40 years, through hardships and dangers, only to lead the Israelite nation to the only spot in the Middle East where there isn’t a drop of oil.
Two thousand years later, things have remained pretty much the same. Today, Israel is considered an “island-state”, with over 99% of its capacity produced from imported fossil fuels.
In alignment with global trends, Israel has experienced a recent surge of new ventures in the field, comprising commercial, academic and regulatory initiatives. Although a pioneer and home to world leaders in the RE field, the post-80s low oil pricing era left the Israeli RE industry relatively dormant in comparison with its blossoming high-tech activity. (more…)
Earlier in the week, Jonathan Axelrad, Co-Chair of this past weekend’s Jewish Response to the Energy Challenge (J-REC) conference held in San Francisco and broadcasted through out the United States and Israel, was asked if a “Jewish response to energy” wasn’t as superfluous as the Korean response to hurricanes.
As one of the few, if not only, gentiles I began the morning a bit skeptical, though after a day of thought provoking lectures and panels, I feel it was not another superfluous conference, and the concept of a concerted Jewish response could indeed be the seed of a terrifically successful piece of the large puzzle that will be the energy (and consumption) solution of the future. The core ideas behind why I agreed with the many bright panelists and moderators for why there should be a particularly Jewish response is because of the interdisciplinary and international nature of the energy challenge, the acute water and related energy challenge within Israel, and the Jewish concept of tikkun olam (loosely translated from Hebrew: the pursuit of things that avoid social chaos).
There had been rumors about it earlier this weeks on Globes, Israel’s financial newspaper. But the story was took down, I guess because of a leak.
Now General Electric has unveiled its good news finally, according to ABC News, that it is investing in the Israeli solar technology company SolarEdge. The company allows photovoltaic panels, which convert sunlight into power, to operate up to 25% more efficiently.
“This is an international partnership that will benefit the peoples of South Africa, Israel and other countries around the world,” said BGU’s Vice President for External Affairs Prof. Amos Drory on occasion of the signing. Drory and Prof. Derek van der Merwe, Pro Vice-Chancellor at the University of Johannesburg, signed the research collaboration agreement in South Africa.
“The two universities will become involved in extremely important, evolutionary research that will mainly benefit third world countries throughout the world,” said Dr. Bertram Lubner, Vice-Chairman of BGU’s Board of Governors and president of the SA Associates of Ben-Gurion University (SAABGU).
“Beating swords into green plowshares in Israel,” the article talks about solar energy energy companies such as Bright Source Energy, which is involved in building solar energy plants in California’s Mojave Desert and other locations; and Rotem, which utilizes technologies developed in Israel’s aeronautical defense industry.
A “plucky little” country is how the late Princess Diana once described Israel to Shimon Peres. About the size of New Jersey, Israel has a disproportionate number of clean tech companies and investment in clean technology compared to its size.
And now U.S. businessman and investor David Anthony from 21Ventures (at left) is about to reveal his trade secrets and insider information about clean tech investing in Israel.
If you are itching to become a clean tech entrepreneur in Israel, this is must-read information. If you’d like to know more about what makes the industry tick, read on.
Unlike Silicon Valley and the high-tech industry, the clean tech market today has no center of excellence, Anthony tells Green Prophet. In the last 50 years of venture capital investing there has been a saying, “Never fly over your company,” meaning one shouldn’t invest in a company that isn’t within a 60 mile radius of the office.
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