TEL AVIV Oct 22 The former chief executive of
Israel's Solel Solar Systems, which was acquired by Siemens
in 2009 for $418 million, is considering making an
offer to buy back the maker of solar thermal power plants.
The German engineering group said on Monday it will sell its
solar energy business and is already holding talks with
potential buyers as it trims underperforming businesses
"This is not a good day for the solar energy business," Avi
Brenmiller, one of the founders and former CEO of Solel, told
Reuters. "The future of solar energy is in its integration with
fossil fuel generation."
Brenmiller said his new company, Brenmiller Energy, is doing
research and development into hybrid technologies, combining
thermal solar energy with natural gas to guarantee a continuous
supply of energy to consumers.
(Reporting by Tova Cohen)