Schott Solar was founded in 2007, and by the end of 2013 it had a 70% share of the global market for thermo-solar receivers, the remaining 30% being held by Siemens. Siemens had bought Israeli company Solel for $400 million after failing to buy Schott Solar itself. The upshot of the current deal is that Rioglass dominates the thermo-solar installation market.
Jose M. Villanueva, Chairman of Rioglass Solar Holding, said, “By combining the technology and expertise of both Rioglass Solar and Schott Solar, this transaction will propel us forward, enabling Rioglass Solar to meet customer demands across the industry and prepare the group for the next phases in the rapidly evolving and intensely competitive STE (also referred to as CSP) and CPV businesses. As such, it reemphasizes Rioglass Solar’s commitment to supporting its customers worldwide”.
2015 has been a successful year for Rioglass, which was selected as preferred supplier in all the thermo-solar projects initiated around the world this year and for projects to be carried out in 2016 to the tune of hundreds of millions of shekels, in Africa, Israel (the Ashelim project) and other places.
As a result of the current deal, Rioglass will triple its manpower to more than 300 employees who will be employed at its plants in Israel and Spain under Israeli management located in Beit Shemesh. The Beit Shemesh plant will be expanded at an investment of NIS 20 million.
Article by Mickey Chesla, Blog Manager Israel NewTech For the full Globes article click here.