Solar Tech, a subsidiary of Teralight, has announced plans to build 314 MW of new solar projects across Israel. The company revealed that the projects will be separated into two groups of sub-installations. The first group of 164 MW of solar fences and aquaculture PV projects will be installed in undisclosed locations across Israel. Under the agreement, an Israeli bank will provide a credit limit of ILS510 million (US$137 million).
The second group of projects, totaling 150 MW, will include rooftop PV arrays, solar walls, and solar fences in dozens of towns. Solar Tech has signed an agreement for this batch of projects with local insurer Migdal. Under the agreement, Solar Tech will hold a 51% interest in the sub-group, while Migdal will take the remaining stake.
The projects are expected to be completed in the near future, and will significantly increase the amount of solar energy produced in Israel.
