Renewables, Solar

Ormat, Solar Millennium to participate in tender for Israeli 120 MW solar project

14 September 2010 – Ormat Technologies Incorporated’s Israeli subsidiary, Ormat Systems Limited, has signed a Memorandum of Understanding (MOU) with Solar Millennium AG of Germany to establish a consortium to participate in the tender to develop, construct and operate the 120 MW Ashalim solar thermal power plant in Israel.

Under the MOU, Solar Millennium will provide the technology for the solar field, while Ormat will supply the power block, balance of plant and construction services.
Ormat will own approximately 68 per cent of the consortium with Solar Millennium owning the remaining 32 per cent. Both parties have successfully passed the pre-qualification stage and have been invited to submit a bid
The tender is a BOT (build, operate and transfer) solar thermal power plant, on land owned and provided by the Israeli government. The electricity generated is fed into the grid of Israel Electric Corporation.

The term of BOT will be in the region of 25 years.

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