IEC to buy NIS 2b of solar energy over 20 years

IEC will buy 200 megawatts from four independent photovoltaic power facilities.

Israel Electric Corporation (IEC) (TASE: ELEC.B22) will buy NIS 2 billion of electricity from four solar energy companies over 20 years. The utility will buy 200 megawatts from independent photovoltaic power facilities. The contracts are with Solproject 7 Ltd. (43 megawatts), Ketura Solar Ltd. (45 megawatts), Zmorot Solar Park Ltd. (53 megawatts), and Enlight Renewable Energy Solutions Ltd. (TASE:ENLT) (62 megawatts).

IEC's board of directors approved a plan under which the private power producers will build the photovoltaic facility, which IEC will hook up to the national grid and promises to buy all the electricity sent to the grid on the basis of the generic draft agreement approved by the Ministry of Energy and Water Resources.

The power purchasing agreements are subject to approval of the Government Companies Authority on the basis of the prices and terms set in the provisional licenses it has awarded.

Published by Globes [online], Israel business news - - on February 24, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

View comments in rows
Update by email about comments talkback
Your name
Please insert your name
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Twitter Facebook Linkedin RSS Newsletters גלובס MAD Conference 2017