[February 10, 2010] Telecom infrastructures co Nextcom turns to solar energy: Nextcom plans to enter other renewable energy sectors, such as wind power, too. [Globes, Tel Aviv, Israel] Tweet (Globes (Tel Aviv) Via Acquire Media NewsEdge) Feb. 10--Sources inform "Globes" that telecommunications infrastructure company Nextcom Ltd. (TASE:NXTM) is entering the solar energy infrastructure business through a new wholly-owned subsidiary Nextcom Energy Ltd. Nextcom will unveil the business at the Eilat-Eilot International Renewable Energy Conference and Exhibition next week. Nextcom chairman Guy Israeli founded the company in 1992, and took it public in 2006. He owns 62 percent of it. The company deploys underground telecommunications cable networks, builds cellular antennae, and provides project management and engineering for local area networks (LAN). The sources added that Nextcom's orders backlog includes a recently signed NIS 25 million contract with one of Israel's largest commercial companies. Nextcom has over 600 employees nationwide, as well as hundreds of freelancers. The company works with all of Israel's large telecommunications operators, including Bezeq The Israeli Telecommunication Co. Ltd. (TASE: BEZQ), Hot Cable Systems Media Ltd. (TASE: HOT), Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR), Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL), and NetVision Ltd. (TASE: NTSN), as well as with infrastructure contractors on projects such as the Road 20 (Ayalon Highway). Nextcom's management first considered entering the energy market two years ago, in a strategic decision to seek new growth engines. The company has since learned about the business, and decided to focus on solar energy by operating as an project integrator under engineering procurement and construction (EPC) contracts for turnkey projects. Nextcom plans for Nextcom Energy to enter other renewable energy sectors, such as wind energy, as well as natural gas, after gaining a foothold in the solar energy market. The company built a control center whose roof has various solar energy reflectors in order to study the energy efficiency of competitors' equipment and gain personal experience in the quality of different products. Nextcom has already budgeted NIS 2 million in studying the solar energy business, set-up costs, and certifying personnel in safety and operating standards. The company has already installed dozens of systems for leading Israeli contractors in the new solar energy industry, for an estimated total value of NIS 20 million. The installation of systems worth an additional tens of millions of shekels are in pipeline. Nextcom's share rose 1.8 percent by early afternoon to NIS 2.71, giving a market cap of NIS 37 million. To see more of the Globes or to subscribe to the newspaper, go to http://www.globes-online.com. Copyright (c) 2010, Globes, Tel Aviv, Israel Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. [ Back To TMCnet.com's Homepage ]