The $250 million plant is based on pumped storage technology.
Construction on the hydroelectric plant at Menara in the Upper Galilee has begun. The project is owned by Agira Shoeva Ltd., a consortium of Electra Ltd. (TASE: ELTR) and the Galilee Development Company Ltd., and Sheva Mizrakot Ltd., a joint venture of private investors and the Upper Galilee Regional Council.
The $250 million plant is based on pumped storage technology. The 300 megawatt plant will generate electricity by utilizing the 670-meter altitude difference between two reservoirs. The upper reservoir at Kibbutz Menara is 750 meters above sea level, and the lower reservoir is 80 meters above sea level in the Hula Valley. The water pressure in the pipe connecting the two reservoirs generates the power. Construction will take two years.
Published by Globes [online], Israel business news - www.globes-online.com - on November 21, 2007
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