Teralight has broken ground on a 250 MW solar project in Israel's Jezreel Valley, northern Israel. The Israeli solar developer claims that the Ta'anach project will be Israel’s largest PV park upon completion, accounting for 5.2% of the country’s renewable energy capacity and 1.2% of its overall electricity capacity.
The first part of the project was launched last week together with the Moshavim settlement movement and Israel’s Environment Protection Ministry. It is expected to start operations in the first half of 2024 and will require a total investment of approximately ILS 470 million ($120 million).
The Ta'anach solar project will include 550 MWh of battery energy storage, according to a LinkedIn post by Teralight’s business development economist Doron Koll. He added that the first part of the project, totaling 150 MW of solar, is based on a 23-year power purchase agreement (PPA) with the state of Israel, while the remaining 110 MW of solar and 550 MWh of storage will be based on a private PPA.
“This private PPA is expected to be the largest private PPA to be signed in Israel within the new wholesale electricity market that is being established,” Koll said.
The Israeli government recently introduced new provisions that authorize bilateral PPAs between independent power producers and final clients.
*This article was updated on 4/05/2023 to reflect that the total investment for the first part of the project is ILS 470 million ($120 million).
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