Solar Energy – on the way to “Ehad-Ham” (Israeli Stock market)

Solarit Doral Ltd will raise 150 million NIS in bonds and Stocks, the first Initial Public Offering in Israel of a P.V. company. The company has accumulated projects valued 840 million NIS.
Solarit Doral Ltd is preparing the first Initial Public Offering to fund Photovoltaic Projects throughout Israel and plans to raise 150 million NIS. As a subsidiary of the Doral Group owned by Mr. Dory Davidovitch and Mr. Alon Kesel, Solarit Doral LTD specializes in Real Estate developments and Renewable Energy projects.
Solarit Doral is among the leaders in the P.V.  Industry and has projects in access of 840 million NIS producing approx, 60 megawatts grid power. More than 75% of planning stages of its projects will materialize throughout 2010.
Unlike other companies in this filed, Solarit Doral focuses on developing owned projects as a long term investments that can yield 15% to 17% NOI, and doesn’t plan selling the projects.
So far the company has installed 25 small size projects (up to 50 kilowatts) under its ownership and has orders of 50 projects of 50 kilowatts each that it will eventually own, once regulations prevails in the near future.
The company focused on midsized projects (up to 5-megawatts) in the last year since approved by the Energy Authority and requires Licensing of the Electricity Company. Solarit Doral has 10 pending applications for licenses to assemble Midsize Projects and plans to submit additional 30 applications by April. The company is most active in the Midsize Towns throughout Israel where it benefits from great reputation.
Solarit Doral is exploring the option of a strategic privet investment prior to its Initial Public Offering plan. In addition negotiations are under way with several large groups. The company plans to use the funds to expend P.V projects and to develop projects in the Wind Energy filed.
Other then “Mitav Funds Distributions” an investment house several others are in discussions with Solarit Doral and have expressed great interest.

P.V. Industry- producing Grid-Power from the Sun’s energy is among the most developing industries in the world and the most promising technology in the Renewable energy filed. Israel have joined the US and Europe 2 years ago and incentivized policies to the P.V. Industry with subsidies for producing electricity from Solar Energy.
As per the new regulations by the energy authority, the electricity company is required to purchase grid power from Photovoltaic systems for 20 years contract in an set indexed price. The price set 2 months ago is 1.49 INS per Kilowatt for 5 megawatts systems. As for the small size systems of 50 kilowatts, the price will be published in the next few months and expected to be around 1.61 NIS per kilowatts.
Alon Kesel Owner and Joint CEO for the Doral Group:
The Solar Energy filed has become very attractive investment thanks to the secured cash flow from the Electricity company, the reason being, this filed is not affected by the market fluctuations around the world and the great reliability of this systems.