Doral will associate photovoltaic production facilities with integrated energy storage that it owns that produce green electricity, to some of the Melisron properties (photo: courtesy of Haim Arosi)
The Doral Group announces that Doral Electricity Mahteva Ltd., which is fully owned by it, has signed an agreement for the sale of electricity and a 'green certificate' with Melisron, one of the leading and largest real estate companies in Israel and one of the most significant consumers of electricity in the Israeli economy, for a period of approximately 10 years, in the amount estimated at about NIS 500 million in total - about NIS 50 million per year.
The agreement will enter into force from January 2024. The price of electricity will be attached to the production component which is determined from time to time by the Electricity Authority.
The scope of consumption is estimated at about 150 million kWh per year - about half of Melisron's total electricity consumption.
As part of the agreement, Doral will associate photovoltaic production facilities with integrated energy storage that it owns that produce green electricity, to some of Melisron's assets, and this in accordance with the rules of market regulation.
The agreement constitutes significant progress in the field of renewable energy in Israel and in the activity of Doral in particular, which is one of the largest green electricity suppliers in Israel, among other things in view of the significant volumes of electricity consumption at Melisron's properties, and the mix of electricity consumption at these properties in an hourly distribution throughout the year.
Melisron is the first real estate company to join the renewable energy gospel and chooses to consume green and non-polluting electricity. Being one of the largest consumers in the economy, the company's transition to green electricity consumption is a significant step for the entire renewable energy industry.
Yikki Neuman, CEO of Doral (Photo: Tal Shahar)
Melisron owns approximately 870,000 square meters of commercial space and many offices, spread throughout the country, and is considered one of the largest consumers of electricity in the economy, with an annual consumption of approximately 300 million kWh, at a cost of approximately 100 million NIS per year The scope of Melisron's electricity consumption is expected to increase in the coming years, given the growing scope of activity and the implementation of its growth strategy. According to the recently
published decision of the Electricity Authority, beginning in January 2024, electricity consumers will be able to purchase electricity directly from electricity suppliers that supply electricity produced through renewable energy facilities, by associating dedicated production facilities assigned to consumers.
As part of the signed agreements, Melisron will begin to purchase electricity directly from the electricity suppliers starting in 2024 and in a phased manner, and to consume electricity from renewable energies at its sites.
In this way, Melisron will be one of the first companies to consume green electricity, in innovative agreements of their type and scope in the economy, and will also be entitled to green certificates (IREC) for the electricity consumption at its sites, within the aforementioned agreements.
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Liora Ofer, chairman of Melisron (photo: Vardi Kahana)
The Doral Group is a leading global entrepreneurial company in the field of renewable energies operating in Israel, Europe and the USA. Alongside its extensive activities in the world, which includes, among other things, the establishment of the largest solar project in the USA, Doral owns hundreds of profitable installations and is establishing the largest portfolio of energy projects in Israel Solar combined with energy storage.
The company will produce and supply the largest amount of green electricity to significant consumers in the Israeli economy from
its renewable energy facilities throughout the country, through the green electricity supplier it established.
The scope of electricity consumption that will be associated with Melisron as part of the transaction, constitutes about 10% of the total green electricity that will be produced in photovoltaic production facilities that Doral is expected to connect to the grid in the next two years in the State of Israel, which is about 1 gigawatt combined with about 1.8 gigawatt hours of energy storage.
Melisron Company, controlled by Ofer Investments and managed by Leora Ofer (chairman) and Ofir Sharid (CEO), is a company that specializes in the construction, holding, improvement and management of shopping malls and office complexes and high-tech parks branded under the name "Ofer" and is one of the leading companies in Israel in this field .
The company owns and manages 28 yielding properties with a total area of approximately 884 thousand square meters plus 26,000 parking spaces. The
rental areas are occupied with high average occupancy rates of approximately 98.5%. Among Melisron's main properties: Ofer Ramat Aviv, Ofer Haryon, Ofer Grand Canyon Beer Sheva, Ofer Grand Mall Haifa, Ofer Rehovot, Ofer Grand Mall Petah Tikva, Ofer Billo Center outlet, Ofer Park Petah Tikva East, Ofer Park Petah Tikva West and more. Also, Melisron operates in the residential real estate sector through the company Aviv Yizum, which specializes in residential initiation and construction and urban renewal projects and is jointly owned with the Aviv Group.
Shay Dolev,
: "We are happy about our cooperation with the real estate giant Melisron who chose us as the green electricity supplier for the commercial areas it owns.
This cooperation is an important move that establishes Doral's position as the main player in the field of green electricity supply in Israel, this against the background of the electricity reform that will come into full effect next year, and it is the first swallow in the series of significant green supply transactions in which the company will contract.
We continue to implement our growth strategy in the world in general and in Israel in particular and are working to strengthen Doral's position as a dominant player leading the renewable energy market in Israel with the establishment of dozens of solar projects combined with energy storage." Itai Banyan, Vice President of Business Development at
Melisron
: "The global trend is moving in the direction of reducing carbon emissions and so is Israel. Melisron is a significant consumer of electricity, one of the largest in Israel, and as part of the application of ESG principles we are happy and proud to lead a transition to energy consumption from renewable sources, and to convert our electricity consumption to greener, environmental and cleaner sources The two agreements signed with leading companies in the energy market in Israel are the first of their kind and scope in Israel, reflect optimal commercial conditions for the parties and together will complete the bulk of the electricity consumption in our properties for the next decade."
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green energy
Melisron