Friendly Energy goes abroad, signing ¤15 deal with Italy.

Israeli company to supply photovoltaic panels for solar energy production to a solar farm.

October 21, 2010 23:58
1 minute read.
The Jerusalem Post

Solar Panels 311. (photo credit: Bloomberg)


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


Israel’s Friendly Energy Ltd. and Germany’s AEG Power Solutions GmbH will supply ¤15 million worth of photovoltaic panels for solar energy production to a solar farm in southern Italy. The mono-crystalline panels are manufactured by China’s Gesolar Ltd.

A year ago, Friendly Energy, run by CEO Danny Denan, signed an exclusive collaboration agreement with Gesolar to market its products in Israel and Italy. Under a deal signed a few days ago, Gesolar will deliver 50,000 PV panels to AEG for the production of 10 megawatts of electricity at an Italian solar farm. AEG will install the panels on greenhouses beginning in early 2011, as well as at other sites.

This is the first foreign deal for Friendly Energy, founded in 2009. Over the past few months, the company installed several dozens solar energy units for private and commercial customers in Israel. According to figures provided by Denan, revenue from these installations totaled NIS 12 million, and the company’s orders backlog exceeds NIS 21 million.

“Instability in the Israeli market is driving us to seek international markets. The Italian job with AEG is our first foothold in a foreign market,” Denan said.

“The similarity between the Israeli and southern Italian market is amazing in terms of climate, so it’s convenient for us to operate there.”

He added that, before the deal was signed, AEG experts visited Gesolar’s factory to test the reliability of its systems and to monitor performance.

Friendly Energy has been trying for a long to time to lead two PV power plant ventures at Ashelim in the Negev.

“These two projects are mired in bureaucracy,” said Denan.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection