The Israel Electric Company is set to work with start-up Enlight Renewable Energy to convert solar energy to electricity on a massive scale.
Enlight CEO Gilad Yavetz said “We can see the importance of the company’s continued expansion both in the solar and wind sectors. The company’s…ability to operate facilities for the production of clean electricity based on a mix of wind and solar energy – together with a storage technology that will develop in the coming years – will enable it to build a competitive ability to supply cheap electricity around the world. This is at a lower cost to consumers over any conventional alternative which is based on fossil fuels such as natural gas, coal or nuclear energy.”
These projects are expected to generate revenues of NIS 20 million per year.
The commercial operations of the six projects are required to be completed by a set date and bureaucratic approvals have been acquired, according to an Enlight analyst. This is in addition to one of the projects, which includes the creation of a 40 megawatt power generator that will be able to convert photovoltaic energy – energy converted from light into electricity using solar panels – to both low and high voltages for commercial use by the Israel Electric Company.
The six projects have a combined capacity of 30 megawatts (41 MW) at their connection point. They are currently positioned in Kibbutz Revivim (9 MW), Kibbutz Carmim (4.99 MW), Kibbutz Beit Rimon (4.8 MW) and two in Moshav Talmei Yaffe (totaling 8 MW). The solar panel projects passed numerous tests and will be connected to the national electricity grid. An additional project will be located in Kibbutz Dorot (9.99 MW), though this was the only site which was delayed due to the tense security situation in the South as it was subject to rocket attacks.
The grid is scheduled to produce electricity at 19.9 agorot per kilowatt for the next 23 years.
The company, which is traded on the Tel Aviv 125 Index is a leading actor in the production of clean energy from renewable sources, operating in Israel and across Europe. It has invested and established over 100 projects and continues to find alternative clean energy sources to generate electricity.