Solar Panels 311.
(photo credit: Bloomberg)
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
Friendly Energy has been trying for a long to time
to lead two PV power plant ventures at Ashelim in the Negev.
projects are mired in bureaucracy,” said Denan.
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