Israel’s Solel Cashes In

[Red Herring] With oil prices hovering around $70 a barrel, Solel, an Israeli solar energy company that nearly shut down over a decade ago, is finally seeing an upsurge in demand for its thermal energy technology. In June, Solel announced its biggest contract yet, a $45-million deal with Florida Power and Light to replace the heat collecting elements at seven of the Florida company’s nine solar trough power plants in California’s Mojave Desert. The solar trough power plants produce some 350 megawatts of electricity.