Continuus A Ltd., owned by high-tech entrepreneur Elad Cohen, is setting up Israel's first solar panel factory, in Eilat. The project is in collaboration with Eilat mayor Eli Lankri. According to Cohen, all the solar panels installed in Israel are currently imported, mainly from China, which has dominated the global solar panel market for a decade.
The factory is due to start operating in the first quarter of 2024.
"A few years ago I was looking to make a significant investment in renewable energy, and after studying the field, I came to the conclusion that the biggest opportunity for growth in Israel and globally lay in photo-voltaic energy," Cohen said.
"Demand for premium grade solar panels adapted to the extreme climatic conditions in our region is at a high, and will grow further. What's more, there is no outstanding brand in this area today that customers identify as a high-quality product at a good price," Cohen continued. "We shall provide all of this at the factory we shall construct in Eilat, which is close to several international ports and main transport routes, provides land at sane prices, and has a local authority that uses all the means available to it to promote projects of this kind."
Published by Globes, Israel business news - en.globes.co.il - on August 10, 2021
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