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Solel USASolel Inc., the U.S. subsidiary of Solel Solar Systems, is a leading developer of solar power plants. Solel Inc. teams with major players in the fields of engineering design, environmental services, transmission and financing to develop utility scale power plants, both in clusters and in stand-alone configurations. Solel Inc. is developing the 553 MW Mojave Solar Park 1 (MSP-1), the world's largest solar thermal power plant, in California's Mojave Desert. In July 2007, Solel Inc. concluded a 25 year Power Purchase Agreement with Pacific Gas and Electric (PG&E) to provide it with electricity from MSP-1. Solel will build MSP-1 using Solel 6, Solel's industry leading solar thermal collector. MSP-1 will encompass nine square miles and will provide PG&E with 1,388 gigawatts of energy annually at a price competitive with plants powered by fossil fuels. Solel Inc.'s major focus is the southwest region of the U.S., the world's largest identified market, with its abundant energy source and excellent proximity to population centers. A report commissioned by the WGA (Western Governor's Association) predicted that peak power demand by 2015 in the six southwestern states (California, Nevada, Arizona, New Mexico, Colorado, Utah) will grow by 34 GW, of which 20% (7 GW) is targeted to be provided through renewable power sources. |