The photovoltaic power plant produces three megawatts.
Gilatz Investments Ltd. (TASE: GLTS) 50% subsidiary Gilatz Spain SL has bought another photovoltaic power plant in Spain for €30 million. The power plant produces three megawatts. The seller is Soltec, which will continue to provide maintenance services.
This is Gilatz's third solar power station bought in Spain since April. The company said that, similarly to the first two solar power plants, the current plant is also located at one of the country's best solar fields with strong solar radiation.
The first two photovoltaic power plants use the fixed panel photovoltaic system, in which the panels do not move. The current power plant uses dual-axis panels, which track the sun, thereby boosting output by 30% compared with fixed panels.
Published by Globes [online], Israel business news - www.globes-online.com - on September 10, 2008
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