Ecofin Invess $105 Million in Solel Solar Systems

Ecofin Limited (“Ecofin”), a London based investment manager specialising in the utilities and infrastructure sectors with approximately $5,400 million of assets under management, is pleased to announce a major new investment in Solel Solar Systems Limited (“Solel”). Ecofin, on behalf of its funds and certain co-investors, has invested $105 million in shares of Solel through a combination of subscription for new equity and secondary share purchases. Solel specialises in the design, manufacture and installation of solar fields and critical solar field components for large scale power generation. Solel is the world’s largest solar thermal company with over 20 years experience in the sector. Solel has signed a power purchase agreement with the Pacific Gas & Electric company to supply a solar thermal power field of 553MW in California and is in discussions with a number of other utilities about similar projects. Solel employs approximately 300 staff and its headquarters and R&D centre are based in Bet Shemesh, Israel. It has subsidiary offices in Spain and the United States. Link.