Solel gets large new order for solar thermal receivers

Solel Solar Systems, a leader in solar thermal technology for central power plants, announced today it has signed a new contract with FPL Energy to supply thousands of its solar thermal receivers systems.

Terms of the sale were not disclosed.

FPL Energy is one of the leading providers of electricity in the United States, and is the co-owner and operator of seven solar power plants in California's Mojave Desert.

Eight months ago, Solel announced an agreement with FPL to upgrade its solar plants with 48,000 new thermal solar systems. The new agreement for the additional units will enable FPL to increase its output of clean electricity and reduce the costs associated with operating its solar plants.

In November 2006, Solel announced a frame agreement with Sacyr-Vallehermoso, one of the largest Spanish infrastructure corporations, to jointly build three solar power plants in Spain with a total capacity of 150 MW and a total overall investment of $890 million. Solel's portion in this project, in which it will serve as the supplier of the technology and provider of energy, is estimated to be $500 million.

Solel is a leader in solar thermal technology for solar systems and central power plants. The company's 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.

Solel's headquarters, manufacturing plant and R&D center are in Israel. It operates in the U.S. through its subsidiary Solel, Inc.