Israel’s Shikun & Binui Energy has won a tender to build 100 MW to 130 MW of PV and 180 MWh to 240 MWh of storage capacity, according to a statement to the Tel Aviv Stock Exchange. It won the contract from Trans Israel, a state-owned enterprise that oversees for the country’s longest road, the Cross-Israel Highway.
The project is valued at ILS 450 million ($119.8 million) to ILS 550 million. Shikun & Binui will operate the project for 25 years, after which it transfer its ownership to Trans Israel. The company said in the statement that it will sell the energy on the open market and expects revenues of ILS 60 million to ILS 70 million per year.
The company said construction will start in the first quarter of 2025 and will take six to 12 months to complete. The PV capacity and storage system will be built next to six interchanges, and Shikun & Binui says it might get permission to build up to four projects.
“This is a breakthrough project regarding the non-transportation use of the Cross-Israel Highway,” Trans Israel CEO Dan Shenbach said in a statement by the Israeli Ministry of Transport and Road Safety. “It joins the national effort to maximize the use of renewable energy for a greener Israeli future.”
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