The acquisition of Israeli solar company Friendly Energy by Italy’s Ener-Point has provided more opportunities after several government hang-ups on projects within the Hebrew state. The newly formed company, EnerPoint Israel, has just been approved to install two new solar fields totaling 10 MW in Teramo, Italy.
The Israeli subsidiary’s CEO Danny Denan told The Jerusalem Post that Israel’s new renewable energy policy was enacted to further its solar energy industry, but to no avail. The government’s goal was to have 5% of its total energy generation to stem from renewable energy by 2014 and 10% by 2020. The CEO said that while the renewable energy policy was supposed to include an additional 100 MW for solar rooftop panels and 500 MW for large fields, the project was postponed. “It’s disappointing because the government gave a promise and they’re not standing by their intentions and promise,” Denan said.
When Ener-Point swallowed Friendly Energy, it gave an opening into what Denan said is the biggest solar market. “The Italian market is the best in the world, and the German one is next,” Denan said. “The government gives a really clear future, exactly opposite of Israel.”
“We like to say we’re more European, but when it comes to the nitty-gritty, we’re more like Africa perhaps,” Denan said. “It will affect not only the solar industry, but also many other industries as well. The government has to show leadership.”
Friendly Energy hasn’t been the only Israeli solar firm acquired by a European entity. Siemens tapped Solel Solar Systems Ltd. in 2009 and is now on its way to commissioning its first solar thermal power plant within two months that will feed power into the Spanish grid. The company is currently looking for investors to make its financial close with the new plants costing about $434 million each. Spain seems to be another hotspot for solar thermal power, but the IEA says Africa could become the second largest producer behind the US as countries in North Africa continue full throttle with projects like the Medgrid Initiative and Desertec.
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