Tadiran buys PV systems co Eliran Solar
| Date | 13 December 2020 |
| Author | Globes correspondent |
| Published date | 13 December 2020 |
Eliran Solar, a privately-held company that was founded in 2013, imports, plans, distributes, processes and sells products for assembling photovoltaic (PV) systems in Israel. PV systems allow the direct conversion of solar energy into electricity, thus producing savings in energy consumption and Eliran Solar provides an advanced solar energy solution from the solar panels through to installing an infrastructure of panels on roofs, optimizers that maximize electricity production from the panel and including a current converter with a function of transforming the electrical current produced in the panels, routed to a converter from a direct current to an indirect current that can be connected to the national electricity grid. Eliran Solar is fully owned by its founder and CEO Eliran Tyito (36), who will join Tadiran and manage Tadiran solar energy activities.
Tadiran controlling shareholder and CEO Moshe Mamrud said: "Tadiran is expanding its activities in the energy field in Israel, another move that represents the realization of our growth strategy. The acquisition of Eliran Solar, which leads the import, planning, distribution and trading sector for products for assembling photovoltaic systems, and which has a broad and synergistic customer base for Tadiran, gives us a foothold in the growing photovoltaic energy market and expands the value that we offer our customers. It is our intention, to leverage the core capabilities and assets that we have accrued over 60 years: a strong brand known in every household, an excellent service network, distribution and trade channels, equipment and logistics, while focusing on our core markets - households, commerce and industry. The field of solar energy is characterized by a trend of rapid growth over the past decade and due to the Ministry of Energy's targets to increase electricity production from renewable energy in the coming decade, we believe that this trend is expected to continue to intensify. Tadiran is focused on its aim of leading the markets in which it operates, including through business development and realizing its strategy plan, and the targets it has set itself for growth in the coming...
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