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The largest solar project in the north is underway - voila! Of money

2022-07-26T07:25:16.549Z


The largest solar project in the north of the country is nearing construction: Bank Leumi will provide Tralite with financing of up to 450 million shekels for the Hatanach 1 project


The largest solar project in the north is underway

The largest solar project in the north of the country is nearing construction: Bank Leumi will provide Tralite with financing of up to NIS 450 million for the Hatenach 1 project. Tralite also received permission to connect to the electricity grid for the Hatenach 2 project, which is expected to generate electricity with an installed capacity of 100 megawatts.

Expected revenue: NIS 2 billion

Walla!

Of money

07/26/2022

Tuesday, July 26, 2022, 10:07 a.m. Updated: 10:19 a.m.

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Solar panels (illustration).

Soon also in Ha'anach (Photo: ShutterStock)

Significant news for the electricity market in the State of Israel: Bank Leumi will provide Tralite with financing of up to NIS 450 million for the Ha'anach 1 project. At the same time, Tralite received permission to connect to the electricity grid for the Ha'anach 2 project, which is expected to generate electricity with an installed capacity of 100 megawatts.



The Atanach project (1+2) will provide electricity in a total volume of 250 megawatts and is expected to generate revenues of approximately 2 billion during its operation period (23 years).

At the same time it was learned that Tralight, in cooperation with the Moshavim movement, is promoting another project besides the one in Atanach (250 megawatts): in the Jordan Valley, with an expected production of 350 megawatts.

The company also recently reported on a memorandum of understanding for the sale of its rights in a solar project in Canada for a profit that may reach up to NIS 80 million



Earlier this year Tralite received a license for electricity supply from the Israel Electricity Authority and thus entered the field of electricity supply in Israel.

The license will allow Tralight to contract directly with business, domestic and other consumers, and supply them with electricity in accordance with the regulations, including options to offer the private sector energy efficiency measures and charging stations for electric vehicles.

The company is expected to connect hundreds of megawatts of solar to the grid under the new market order in the electricity sector.



At the same time as the progress in Israel, Tralight began to work towards its entry into significant activity in the solar field in the UK, where in the first stage the company performs adequate tests for a portfolio of projects in the scope of about 180 megawatts.

At the same time, at the beginning of the year, the company also updated on its entry into the field of energy storage within the framework of an exclusive cooperation agreement with BLEnergy from the Belilius Group for the purpose of development, financing, construction and maintenance of independent high voltage and high voltage electricity storage projects in Israel and Europe.



In addition, the company recently announced the establishment of an independent "Energy Performance Certificate" (EPC) entity of the company in the field of ground projects, and this is in favor of adopting the strategy to operate along the entire value chain of the construction of the solar systems.



The Tralite company operates in the field of developing and initiating solar energy projects in Israel and around the world.

Tralite has an exclusive partnership with the moshavim movement, which unites 254 moshavim across the country.

In addition, the company has invested in a number of technology companies in the fields of green energy and energy optimization processes.

The company has accumulated projects of about 750 MW in Israel.

The CEO of the company is Rani Lifshitz and the chairman of the company is Yunel Cohen.

Rani Lifshitz, CEO of Tralight (Photo: Faraj Photography)

Rani Lifshitz, Tralite CEO

: "We are updating today on significant developments towards the establishment of the flagship project of the cloud in the north of the country.

The approval of the connection to the electricity grid for the Hatanach 2 project is a significant milestone for the project and for Tralite.



The approval is actually a green light for the completion of the 250 megawatt project, which was also announced as a national infrastructure project, and advances Israel a significant step towards increasing the use of electricity produced from clean solar energy, produced by Blue and White.

The practical meaning of 250 megawatts is the supply of electricity to about 200,000 homes in Israel. After receiving the approval, all the conditions required for the completion of the project, on both parts, were met in preparation for its commercial operation in the scope of 250 megawatts already in the first quarter of 2024.



At the same time, we are updating on the memorandum of understanding with Bank Leumi, according to which the bank will provide financing for the project 1. We see this engagement as an expression of confidence on the part of the bank and another milestone towards the establishment of the project.

Tralite will continue to work to implement the company's strategy to expand and improve our operations in Israel and abroad. This improvement was also reflected recently, when we signed a memorandum of understanding for the sale of the solar project we own for a profit of up to NIS 80 million, which expresses a rise in value achieved in less than a year."

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  • Of money

Tags

  • solar energy

  • National Bank

Source: walla

All business articles on 2022-07-26

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