Israel-based Econergy Renewable Energy has secured $ 250 million in financing from RGreen Invest, a French asset manager to promote its investments in renewable energy projects across Europe. RGreen Invest will provide Euro 87.5 million in corporate financing to Econergy International Limited, the Israeli-listed company’s British subsidiary. This would help to expand the company’s pipeline development and growth plans in the UK.
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REE Automotive, an Israel based e-mobility company, has secured $17 million in funding from the UK government for its REEcorner technology. The funding received by the company is part of a $57 million investment coordinated through the Advanced Propulsion Center.
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Israel has received 11 bids to finance, build, and manage a 300 MW solar power project with energy storage in the southern part of the country. According to the government, the project proposed for Dimona will be a public-private partnership and will be one of Israel’s largest solar power plants. The chosen developer will be in charge of the solar power plant’s development, funding, construction, and operation.
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Israel’s Electricity Authority has announced the results of its 608.95 MW solar auction. Seven bidders have been awarded projects in the country’s second solar tender with the power supply tariff set at 0.1745 Israeli Shekel (~$0.054)/kWh for all projects. This was the lowest quoted tariff in the bid which is now applicable for all winning projects and was determined using the uniform price method.
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Israel’s cabinet has approved a plan submitted by energy minister Yuval Steinitz to lift the 2030 national renewables target from 17 per cent to 30 per cent. By 2030, the Western Asian nation will strive to make renewables cover 30 per cent of its total electricity consumption, while an interim goal stipulates that percentage to be 20 per cent by end-2025.
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GE Renewable Energy has been selected by EDF Renewable Energy and and Mitsui & Co., Ltd to supply 27 of its 3.2MW-85 onshore wind turbines to build the 87 MW Taza onshore wind farm in Morocco.
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Israeli startup Ecoppia, which manufactures robotic solutions for cleaning solar panels, is weighing an initial public offering (IPO) on the Tel Aviv Stock Exchange at a company valuation that could reach as much as $500 million.
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