The company estimates it share of the €50 million project at 15%.
Israel's Millennium Electric TOU Ltd., a developer of photovoltaic-based power systems with thermal solar elements, has signed an agreement with Italy’s Lavori to build solar power stations, solar-powered gas stations, and to convert street lighting in Rome to solar-powered street lights.
Lavori is about to build a 105-megawatt (MW) solar power station. It contracted with Millennium Electric to build a 10-MW power station in the first stage, with an option to expand the contract after the first year. Lavori plans to invest €500-750 million in the projects over five years. €50 million will be invested in Millennium Electric’s 10-MW solar power station. Millennium Electric CEO Ami Elazari estimated the company’s share of this project at 15%, before calculating its share of electricity sales from the power station.
Published by Globes [online], Israel business news - www.globes.co.il - on November 30, 2006
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