Consortium team up for 120-MW solar thermal project in Israel

Ormat Technologies Inc. will form a consortium with Germany’s Solar Millennium A.G. to build and operate a 120-megawatt solar thermal power plant in Ashalim, a small communal settlement in southern Israel.

Ormat Technologies, through its Israeli subsidiary Ormat Systems Limited, will own 68 percent of the consortium, while Solar Millennium will own the remaining 32 percent. Solar Millennium will provide the technology for the solar field, and Ormat will provide the power block, balance of plant and construction.

Both companies have passed the prequalification stage and are slated to submit a bid.

The energy generated from the project will be fed to the power grid of Israel Electric Corporation.

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“The Ashalim opportunity, if successful, will expand our solar activities to solar thermal, where we have technological expertise,” said Lucien Bronicki, board chairman and chief technology officer of Ormat Technologies.

The Ashalim solar project will bring Israel closer to its goal of generating 10 percent of its total electricity consumption from renewable energy sources by 2020. Israel also aims to reduce its emissions by 20 percent by 2020 and cut down its electricity consumption by 20 percent.

Ormat Technologies (NYSE:ORA) develops and operates about 1,300 MW of renewable energy projects worldwide. It also holds 75 United States patents for its products and systems.

The company has been developing solar energy for the past 40 years, starting with its first solar pumping unit in Africa. Ormat recently entered the photovoltaic market via a joint venture that develops medium-size solar photovoltaic plants, Mr. Bronicki added.

Solar Millennium (Pink Sheets:SMLNF) is one of the leading companies in the concentrating solar power market and is responsible for 50-MW solar thermal plants in southern Spain, the first European parabolic trough power plants. The company is developing similar plants in Egypt and the United States.



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