SolarPower News
2 articles
growth-positive
Orad in talks to buy Solarpower
Orad Ltd. is in negotiations to acquire Solarpower, a company that designs, builds, and maintains solar power systems and initiates alternative energy projects in Israel. The completion of the deal is subject to various conditions, including financing consent and approval by the Antitrust Authority director general. Orad reported a NIS 14 million equity deficit in its last financial reports. The companys shareholders include CEO Ariel Adoram, Yitzhak Sultan, and Nir Peleg. Orad finished the first half of the year with improved revenue and a net profit of over NIS 3 million.
Acquisition
growth-positive
Solar Power to the people
Israeli company SolarPower Ltd. is a start-up that is building an alternative energy prototype while also providing solar energy products and services. The company aims to finance its independent business through its service role. SolarPower has developed an innovative inverter that improves electricity conversion efficiency. The company is also exploring smart control of its inverter through the Internet. SolarPower is currently partnering on projects in Angola and Ethiopia, and expects to reach sales of NIS 7-8 million in 2005. The solar market based on photovoltaic panels is growing, but government support is needed for further development. SolarPower is waiting for investment to develop its inverter prototype.
InvestmentExpand
