Sunday Solar Energy will install photovoltaic receptors at a cost of NIS 20 million.
Ormat Industries Ltd. (TASE: ORMT) will collaborate with Sunday Solar Energy Ltd. to install a one-megawatt photovoltaic power system on the roof of Ormat's factory in Yavne at a cost of NIS 20 million. The factory roof covers 20,000 square meters.
A 50-kilowatt system will initially be installed, subject to the recently published incentives by the Public Utilities Authority (Electricity) for small facilities for the sale of electricity at NIS 1.97 per kilowatt/hour.
Ormat is bidding in tenders for the construction of the thermosolar power station at Ashelim in the Negev. The installation of photovoltaic receptors on its own roof is its first venture into this sector.
Published by Globes [online], Israel business news - www.globes-online.com - on April 6, 2009
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