Solegreen Renewable Energy announces that the company won two tenders which were published by the Israel Lands Authority (RMI), for the lease of lands in the scope of approximately 1.400 dunams each, in the territory of the local industrial council Navot Hovav, and in the Galili area (near Ramat Beka), for the planning, construction and operation of projects for the production of electricity using photovoltaic technology.
The company’s offers in the total amount of NIS 053.1 million within the framework of the two tenders, to establish on the polygons that are the subject of the tenders 2 ground-based photovoltaic projects of the company with a total installed capacity of up to 520 megawatts plus a storage capacity of up to 940 megawatts per hour, taking into account its unique location of the land that is the subject of the Ramat Hovav tender which is designated for engineering facilities within the boundaries of the local industrial council Navot Hovav and adjacent to an existing ground-based photovoltaic facility at higher voltage, and for the location of the land that is the subject of the Ramat Bekah tender which is designated for construction and development restrictions in the Galilee area.
According to the company’s estimation, the construction cost of each project is expected to be up to 820 million NIS, and accordingly, the
projected profit of each project is expected to be up to 200 million NIS per year, throughout the operating period. According to the company’s assessment, the project is expected to reach readiness for construction (RTB) during the year 2026.
In accordance with the terms of the tender, with respect to each of the projects, within 3 months from the date of the award, a license contract for the planning of the project will be signed between Rami and the company for a period of up to 4 years, subject to the payment of 20% of the project’s bid amount (the first payment), when upon its approval of a new outline plan, by virtue of which it will be possible to issue a building permit for the project, a lease agreement will be signed with the company for a period of 24 years and 11 months for the purpose of establishing and operation of the project, subject to the payment of the balance of the bid amount (80% of the bid amount). In this context, it should be noted that the company posted a bid bond for each of the tenders in the amount of NIS 5 million, which will be deducted from the first amount to be paid by the company in connection with each of the tenders.
The company’s winning the tenders has a fundamental strategic meaning in the energy market in Israel, and this, among other things, considering their size, the planning condition and the location of the land and the object of the tenders, and in addition that they are among the last land reserves that are expected to be marketed in favor of the establishment of ground-based photovoltaic projects on a significant scale.
This win constitutes another significant milestone in the realization of the company’s emerging strategic plan to establish its position as a significant producer and supplier of green electricity in Israel and joins the company’s significant wins within the framework of the procedure by which the company is currently promoting the establishment of a number of ground photovoltaic projects combined with capacity storage, with a total installed capacity of approximately 210 megawatts and approximately 440 megawatts per hour.