Arava Power Company Information

Arava Power Company (www.aravapower.com) is Israel’s leading solar developer and a pioneer in mid-size and large-size solar fields using photovoltaic technology. Founded in 2006, Arava Power seeks to supply 10% of Israel's electricity needs through alliances with kibbutzim, Negev Bedouin and other land owners, especially in the south of the country. In 2009, Siemens partnered with Arava Power and invested $15 million to acquire a 40 percent stake in the company. On June 5, 2011, Arava Power Company launched Israel's first commercial solar field at Kibbutz Ketura – a 100 million NIS installation financed by Bank HaPoalim - and announced their planned pipeline of over 400 megawatts, comprising an investment of approximately $1.5 billion. On February 7, 2012, Arava Power announced that they had received a license for the Tarabin Solar Field, the first solar field for the Bedouin community. Financing for the $30 million Tarabin installation is to be provided by OPIC – the Overseas Private Investment Corporation of the United States Government.