Israel Energy and Business Convention award Arava Power team for developing the solar power industry in Israel and abroad.
Shaul Tzemach, Director General of the Ministry of Energy and Water, looks on as Dr. Amit Mor, Co-CEO of Eco Energy, presents Yosef Abramowitz, President of Arava Power Company, the 2012 Energy and Business Convention Person of the Year Award. (Hannah Schafer)
, co-founder of Israel’s leading solar developer, Arava Power, has been named ‘Person of the Year for 2012′ by the Israel Energy and Business Convention.
“Yosef Abramowitz pioneered the application of solar energy in Israel and succeeded in finding a way to integrate a Zionist vision with an economically-sound business model. We are proud and honored to award him with the title of Person of the Year in the energy sector in 2012,” said Amit Mor, Israel Energy and Business Convention head and CEO of Eco Energy.
In 2009, Siemens bought a 40 percent stake in Arava Power, which has developed the only commercial scale grid-connected solar field in Israel and is expected to break ground on eight additional fields shortly.
Meanwhile, Abramowitz announced an engagement of DS Apex to raise $10 million to fund the development of solar fields outside of Israel.
The new solar power company, as of yet unnamed, will focus exclusively on markets beyond Israel’s borders, primarily in the developing world.
“Eighty-five percent of Africa has no power,” said Abramowitz. “And most of the 15% who have electricity are burning dirty and expensive diesel. We have a moral and strategic interest to end the burning of oil for electricity production worldwide. Our investors will derive great value by our providing clean and inexpensive power to energy-hungry markets, while also improving the lives of tens of millions of people.”
“DS Apex is well-positioned among Israeli and global investors in the energy field,” added Abramowitz. “We are pleased to work with them to bring this high-growth opportunity to their investor base.”
Abramowitz was recently named by CNN as one of six leading green pioneers worldwide.“Yosef and the founding team of Arava Power are recognized globally as solar pioneers who can identify a solar market early and create tremendous shareholder value,” said Yair Ephrati, CEO of DS Apex M&A. “We are honored to represent Yosef and his partners and support their global expansion plans.”