Rioglass News
2 articles
growth-positive
Rioglass Solar signs further contract in South Africa
Rioglass Solar, a Beit Shemesh-based company, has secured a NIS 70 million deal to provide systems for a thermo-solar power plant in South Africa. This is the companys third power plant project in South Africa, with a total value of NIS 235 million. The power plant will produce 100 mW of power for about 80,000 households. Rioglass Solar has recently taken over the global thermo-solar system market after acquiring Siemens thermo-solar receiver operations and German Schott Solar. South Africa is becoming a key market for Rioglass Solar due to the governments campaign to produce 8.4 gW of solar power by 2030 and significant foreign investment in the country.
AcquisitionInvestment
growth-positive
Israeli thermo-solar receivers co Rioglass in major acquisition
Rioglass is acquiring the receiver business of Schott Solar, its main competitor, in a deal worth tens of millions of euros. This acquisition will allow Rioglass to dominate the thermo-solar installation market and meet customer demands in the industry. As a result of the deal, Rioglass will triple its workforce to over 300 employees and expand its plant in Beit Shemesh. Rioglass has had a successful year, being selected as the preferred supplier for thermo-solar projects worldwide. The acquisition is expected to propel Rioglass forward and prepare the company for future growth in the rapidly evolving and competitive STE and CPV businesses.
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