About SolSpear

SolSpear Energy Ltd. (SolSpear) is a development and investment company focusing on solar energy projects. Our mission is to develop, own, finance and operate mid-size solar power generation facilities in the south of Israel, within the framework of the Israeli Government photovoltaic solar incentive program.  SolSpear is led by a world-class team and is well capitalized.

Business Environment

Israel is rich in solar resources, but was relatively slow in adopting incentive programs for solar energy production. In 2008 the market for solar power generation in Israel was less than $5M. In early 2009, the Israeli Government set a target that by 2020, 10% of Israel’s energy is to be produced from renewable sources.  One of the programs governs medium PV facilities with capacity of up to 5MWp and a target of 300MWp by 2014. As a result, the market for mid-size facilities is expected to grow from zero to $1.5B over the next 5 years. The incentive program is expected to be launched by Q409 with initial feed-in-tariff (“FIT”) of 1.58NIS (0.395 US cents at 4 NIS/USD exchange rate) per KWh, inflation indexed and fixed for 20 years. In addition, there are few planned tenders for larger projects.

Competitive Edge

• Track record: SolSpear's founders built several successful ventures with aggregated value of over $250M.
• Focus: Mid size PV market (versus small rooftop and large CSP facilities) and development (versus engineering).
• Finance: Strong financial backing based on self sources and strong investors group.
• Values: Moral approach to business relaying on integrity, professionalism, environment care and Zionism.