Solair will set up a project to produce water and generate and store energy – the capital market

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Establish a combined project in the Arava for electricity generation, energy storage and water production with an investment of NIS 1.5 billion. The company has signed the land agreements on which the project will be built, located in the area of ​​Kibbutz Lotan, Neve Harif and Yahel. This is a facility for generating electricity with an installed capacity of 250 megawatts and water production of up to about 20 million cubic meters per year.

The project will be built on land with a total area of ​​about 2,100 dunams. Solair will hold 80% of the project company, while Beitar (20%) will hold Meitav Dash Investment House. The lack of a project will hold 74% of the project jointly with the kibbutzim, the landowners, who will hold 26% of it. Solair says that according to the initial programming surveys at the site, there is a possibility of producing water at significant volumes and at competitive costs.

The facility will include two levels of water reservoirs, connected to each other by a turbine and a pump for the purpose of pumping water from the lower to the upper reservoir. The fall of water from the upper to the lower reservoir will in turn propel hydroelectric turbines to generate electricity.

Yesterday, Solaire reported that the subsidiary Energy Intersol 4SL had received an exclusive right to acquire the rights to establish and initiate photovoltaic projects in Italy amounting to approximately 312 megawatts, of which projects amounting to approximately 45 megawatts are expected to begin construction. Another year.

Solair was issued in early February, when it raised NIS 120 million from the public at a company value of NIS 600 million after the money. However, in the last month the share has lost about 2.3% and is now trading at a value of NIS 510 million.

The company, managed by Alon Segev, is engaged in the initiation, planning, development, procurement, construction, management and operation of projects for electricity generation and renewable energy production. Solair’s areas of activity are Israel and Europe, where it has been operating for two decades. And at various stages of development, including initiating projects, amounting to 1.4 gigawatts.