Hadar Goldman buys $20m Kfar Hayarok solar farm

Solar farm and Hadar Goldman  / Photo: Shlomi Yosef , Globes

The solar energy farm is near the Glilot Interchange between Tel Aviv and Ramat Hasharon.

Israeli real estate investor Hadar Goldman is now investing in green energy and solar energy systems in the US and Israel. Last month Goldman bought a solar energy farm in Kfar Hayarok for $20 million.

The farm, which is near the Glilot Interchange (between Tel Aviv and Ramat Hasharon), was set up five years ago in cooperation between Kfar Hayarok and Ofer Steinberg Solar Energy Systems. The farm produces clean electrcitry for Kfar Hayarok and the Israel Electric Corporation (IEC) (TASE: ELEC.B22), as part of a contract until at least 2043.

The solar panel systems mounted on rooftops were manufactured by Israeli photovoltaics company SolarEdge Technolgies (Nasdaq: SEDG). Covering an area of 40,000 square meters, the farm has a production capacity of 10 megawatts. The deal was completed by Hadar Goldman's company Goldman Investments and is being financed by Bank Hapoalim (TASE: POLI).

For the most part Goldman Investments owns residential real estate properties in the US. Goldman says that it is his strategy to make all his properties energy self-sufficient. He said, "The company's residential properties in Texas are drenched in sun, making them especially suitable for operations using solar energy."

Goldman added, "Solar farms are very similar to income producing real estate in terms of the structure of the deal and managing the financing."

Published by Globes, Israel business news - en.globes.co.il - on October 22, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Solar farm and Hadar Goldman  / Photo: Shlomi Yosef , Globes
Solar farm and Hadar Goldman / Photo: Shlomi Yosef , Globes
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