Shikun & Binui Energy To Develop 150-MW Solar-Storage Project In Israel’s Ashalim Region

Shikun & Binui Energy has signed a build-operate-transfer agreement with the State of Israel to develop a 150-MW solar power plant with around 460 MWh of energy storage. The new project will be located in the Ashalim area of the Negev, inside the site of an existing solar-thermal facility. The project is owned equally by Shikun & Binui Energy and Noy Fund, an Israeli infrastructure and energy investment firm.

Construction of the new facility is expected to begin in the first quarter of 2026. The building phase is estimated to last about 18 months, after which the plant will move into full operation. The company has projected construction costs between ILS 573 million and ILS 603 million. This investment aims to support Israel’s growing shift toward renewable energy and strengthen grid stability with the support of large-scale battery storage.

Once operational, the project is expected to generate annual revenues of about ILS 73 million to ILS 93 million in its first full year. The company also expects EBITDA in the range of ILS 37 million to ILS 53 million, indicating a strong financial outlook. The combination of solar power generation and energy storage will allow the plant to supply electricity even during non-sunlight hours, helping to improve reliability and efficiency.

Shikun & Binui Energy said the initiative highlights its strategy of integrating solar generation with storage systems while using existing infrastructure and land. By developing the plant within the boundaries of an already operating solar-thermal site, the company aims to make better use of available grid connections and land resources. This approach also supports long-term sustainable energy development in the region.