As uncertainty grows about the future of some of Israel's natural gas suppliers, the solar energy operations of Tel Aviv Stock Exchange (TASE) listed companies continue to grow rapidly.
Yesterday, Sunflower Sustainable Investments Ltd. (TASE: SNFL), controlled by chairman Roni Biram and Gil Deutch, announced the purchase of another solar energy farm in Italy, and real estate developer Aspen Group Ltd. (TASE:ASGR), controlled by Ronny Zarom, announced that it will install photovoltaic facility on the roofs of its properties in Israel.
Sunflower continues to utilize supportive Italian legislation for solar-generated electricity. During 2010, the company signed agreements to build solar energy farms for the generation of 12-15 megawatts. Yesterday, it signed an agreement to buy and build a two-megawatt solar energy farm for €5 million (NIS 24 million). The final price of the deal will depend on how much electricity the solar park will generate.
Aspen is trying to maximize revenue by expanding its solar energy operations. The company will collaborate with Green Mountains Ltd., which will install up to 15 solar energy facilities on the roofs of Aspen properties. Aspen will invest NIS 9.5 million in the project, and expects net operating income of NIS 1.5 million a year.
Published by Globes [online], Israel business news - www.globes-online.com - on February 3, 2011
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