Israel

Greece has grand plans for an interconnector network that runs from the Middle East through to the heart of Europe. pv magazine examines the latest developments on the road to a Mediterranean super grid and what it might mean for the regions involved.

Wevo Energy becomes a subsidiary of SolarEdge, and together the companies plan to integrate the Wevo’s software solution into the SolarEdge ONE energy optimization system for the commercial and industrial (C&I) segment.

The Israeli government said that earlier this month, for several minutes, renewable energy accounted for most of the nation’s energy production. In particular, solar covered 45% of total generation.

There may be a global solar boom but a drastic revision of California’s net metering program has ruptured the industry overnight and is affecting everyone from installers to financiers to makers of power electronics.

Storage Drop has secured a grant from the European Union to develop its PV-driven cooling system technology for low temperature environments. The system is based on compressed air energy storage technology and a hydraulic isothermal compressor with a water pump that compresses the air in an isothermal process.

Official data from the Electricity Authority of Israel show that the country installed 1,108 MW of new solar capacity in 2023. Renewable energy covered 12.5% of Israel’s electricity demand last year.

SolarEdge, an Israel-based inverter manufacturer, says it plans to cut about 900 jobs as part of a restructuring plan “designed to reduce operating expenses and align its cost structure to current market dynamics.”

Israel’s Electricity Authority says it has reached a decision on tariffs, as current rates do not ensure the viability of large rooftop PV projects. It has also raised the tariff for stored electricity sold at peak times.

Israeli developer Shikun & Binui Energy says it will operate a 130 MW solar project next to a highway in Israel for a period of 25 years. It will also include up to 240 MWh of storage.

US investment firm BlackRock says it has increased its ownership interest in Israel’s SolarEdge.