Siemens AG is not only interested in acquiring Israel's Solel Solar Systems, but is also in negotiations to acquire 20% of Arava Power Company, at a company value of several tens of millions of dollars, Israel's business daily Globes has reported in its online edition. Arava Power declined to comment on the report. Solar industry sources say that Siemens wants to invest in just such a partnership in order to be able to supply equipment for the planned solar power fields, and not merely as a financial investment. However, in the case of companies planning to build solar power projects, such as Arava Power, Siemens prefers acquiring a stake with the goal of selling its equipment, as well as generating profits from electricity sales. Arava Power is one Israel's top three photovoltaic solar power integrators, with cooperation agreements with 20 moshavim and kibbutzim in the Negev that own land available for the construction of photovoltaic power stations. The estimated investment in the company is $2.5 billion. Kibbutz Ketura owns 40 percent of Arava Power and a group of US investors owns 60%.
Source: ISRAEL 21c