solarhybrid has bought a 201MW pipeline of PV projects in Israel. The pipeline was purchased from the estate of the insolvent Sunday Energy and cost solarhybrid Israel ILS9 million.
In addition to this one-off payment, solarhybrid will need to pay an earn-out payment of ILS240 per realised kWp.
solarhybrid is one of a number of developers looking at Israel as a potential solar growth market; earlier this month Israel’s Public Utility Authority has awarded licences to build two solar thermal power plants with a combined capacity of 180MW. With the help of these projects the government hopes Israel can achieve its goal of generating 10% of electricity via renewables by 2020.