Italy's largest cogeneration co enters Israel's market

AB Cogeneration Energy expects to build 150-250 power plants in Israel in five years.

Italian company AB Cogeneration Energy, Europe's largest manufacturer of cogeneration power stations up to five megawatts, is entering the Israeli market, and hopes to lead the market for power plants at factories.

Cogeneration is a technology that combines two processes, electricity production and heat generation, for the purpose of attaining more efficient utilization of liquid or gas fuel, thereby achieving greater energy efficiency and saving money.

These power plants are being built mainly on factory premises. Instead of buying electricity from Israel Electric Corporation (IEC) (TASE: ELEC.B22), the enterprise can buy the electricity produced at the power plant, thereby saving the amount charged by IEC for conducting the electricity on its grid.

Although most enterprises complain that they cannot buy gas, the Italian company believes that the "gas revolution" will come, and that it can build 150-250 cogeneration power stations on factory premises in the next five years.

As of now, the company operates in 19 countries, and has built 890 power stations of up to five megawatts.

Every power plant ordered by an enterprise will be completely constructed in Italy, disassembled, and rebuilt on the enterprise's premises within a few weeks. The company is building a warehouse in Israel for spare parts, and has begun training technicians.

AB Cogeneration Energy Israel CEO Daniel Shaaf said, "We guarantee maximum reliability and efficiency, and the power station will be tailored exactly to the customer's needs. We have the most experience in the global market, and we're here to lead the Israeli market, and to stay."

Published by Globes [online], Israel business news - www.globes-online.com - on March 4, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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