Shikun & Binui wins Ashelim thermo-solar plant tender

The Negev plant will begin operations in the second half of 2017 and will be the largest of its kind in the world.

Negev Energy, a consortium led by Shikun & Binui Holdings Ltd. (TASE: SKBN) unit Shikun & Binui Renewable Energy Ltd, controlled by Shari Arison, together with a subsidiary of Spanish company Abengoa SA (BMAD: ABG) has been awarded the BOT concession to plan, finance, build, and operate the thermo-solar power plant at Ashelim in the western Negev. The plant will produce 121 MW of electricity.

The price of the tender was set by the inter-ministerial tenders committee at NIS 0.76 per kilowatt hour - an amount that is relatively low in international terms for thermo-solar produced electricity.

The power station, which will operate using parabolic trough technology will include heat storage units to provide operations for 4.5 hours.

The plant will begin operations in the second half of 2017 and will be the largest of its kind in the world. It will join another thermo-solar plant at Ashelim with a similar capacity as well as a 30 MW photovoltaic plant.

Together these three installations will provide 2% of Israel's total electricity needs and will be an important milestone in reaching the government's target of producing 10% of Israel's electricity needs from renewable energy by 2020.

Under the terms of the BOT tender Negev Energy will operate the plant for 28 years.

Published by Globes [online], Israel business news - www.globes-online.com - on June 20, 2013

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

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