( BW)(SOLEL-SOLAR-SYSTEMS) Solel in Poll Position -- Gaining Ground in
Spanish Solar Energy Race; Will Provide Cobra with Solar Thermal
Receivers in a US $24 M Contract to Produce and Supply Clean
Electricity through 50 MW Solar Power Plant in Spain

    Business Editors

    BEIT SHEMESH, Israel--(BUSINESS WIRE)--April 24, 2006--Solel Solar
Systems ltd., a world leader in solar thermal technology for central
power generation, announced today the signing of a US$24M contract
with Spanish firm Cobra Instalaciones y Servicios S.A. This agreement
will facilitate the first solar power plant in Spain of its kind.
Under the contract, Solel will supply Cobra with its unique solar
thermal receivers, the core technology of thermo solar conduction.
    Cobra is a subsidiary of the Spanish company ACS, Europe's second
largest construction corporation. Founded in 1944, Cobra operates in
the service sector and is a leader in energy and water distribution
networks, telecommunications, railways, industrial systems and energy
projects. The thermal conduction units Cobra will purchase are the key
component of new pollution-free 50MW solar power plants at ANDASOL 1 +
2 and other similar facilities in the south of Spain.
    According to the agreement, Solel will supply its most advanced
thermal receivers / conduction units, capable of rendering higher
levels of thermal energy through improved solar radiation absorption
technology. The new receivers can produce 30% higher thermal output
than the previous versions. Solel has already integrated these
advanced thermal receivers in its SOLEL#6 PARABOLIC CONCENTRATING
TROUGH COLLECTOR. The combination provides a total performance
improvement of more than 50% over the existing versions.
    Solel solar power solutions are installed in the Californian
Mojave desert SEGS fields, supplying 350MW for over 500,000 residents
thus saving 2 million barrels of oil per a year.
    Solel is poised to be the major player in the Spanish solar
thermal market, which has overwhelming support from the Spanish
government. Solel will play an active role in the provision of solar
thermal core technology, in supplying entire power plants on a
turn-key basis or by participating as a co-owner in some projects.
"This agreement is a powerful affirmation of Solel's leading
technological & commercial capabilities on an international scale,"
said Avi Brenmiller, Solel's CEO.
    Brenmiller added that Solel is currently in negotiations with
several international organizations for the supply of turnkey solar
power plants. "We believe that more and more countries, concerned with
the problems of fuel dependency and environmental detriment will
follow suit and opt for our clean energy solutions. Contrary to our
conservative revenue predictions for 2006, the market acceptance has
progressed much faster, marking this year as a breakthrough for Solel
and for the future of solar thermal power."
    This increased optimism was intensified by a recent announcement
that Solel will supply US firm Solargenix with 10,000 solar thermal
receivers for a new power plant in Nevada.

    About Solel

    Solel Solar Systems ltd., is a world leading provider of solar
thermal technology for central power generation. Solel's parabolic
trough thermal technology transforms sunlight into steam of up to 400
degrees Celsius (752 degrees Fahrenheit).
    Founded in 1992, Solel currently employs 120 individuals in its
R&D and production plant in Israel. Solel is a privately held company
and is represented in Spain by PASCH Y CIA, and in the USA through its
subsidiary Solel Inc., situated in Nevada.

    --30--CA/se*

    CONTACT: Solel Solar Systems ltd.
             Avi Brenmiller, C.E.O  
             Tel.: +972 2 9996620  / ext# 128 
             Mobile: +972 50 343 20 34 
             avishai@solel.com
             www.solel.com