Chinese solar energy company Suntech Power Holdings (STP.NYSE) may partner up with Israel Electric Corporation on solar-power projects, Bloomberg reported. Israel Electric’s senior vice-president Yakov Hain said the two companies are discussing co-operation on solar power research and development in addition to building power plants with existing technology. The state-owned Israel Electric would supply the engineering and project management of the plants, while Wuxi-based Suntech could back the project with financing and equipment. Hain told Bloomberg that the two companies could build power plants in countries like Italy, the US, Germany and Mediterranean countries. Israel Electric believes the use of polymers, instead of silicon, for converting the sun’s energy into electrcity could lead to a "breakthrough" in clean tech efficiency. Meanwhile, Israel’s government has been pushing technologies, especially clean tech, to attract Chinese investment as growth in Europe continues to falter.
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