Siemens in talks to invest in Solel: report
Jun 15, 2009
Siemens is reportedly in talks to invest about $100 million in Israel’s Solel Solar Systems.
The development has been reported by the Calcalist financial newspaper. The newspaper said the investment would be made at a company valuation of $250 million. It has also emerged that Solel has hired Credit Suisse to help find an investor for the company.
Solel’s manufacturing plant and R&D centre are in Beit Shemesh, Israel.
Last year, Ecofin Limited, a London-based investment manager specialising in the utilities and infrastructure sectors, on behalf of its funds and certain co-investors, invested $105 million in shares of Solel.