Shikun & Binui inaugurates Israel's biggest floating PV field

Shikun & Binui Holdings Ltd. (TASE: SKBN) unit Shikun & Binui Energy Ltd. and the Hof Harcarmel Water Association will tomorrow inaugurate Israel's largest floating photovoltaic (PV) solar energy field, which will have the capacity to produce 23 megawatts. The PV field floats above the Habonim reservoir, which provides water for agricultural use in the coastal region south of Haifa. The reservoir covers 112.50 acres and when full contains 3.3 million cubic meters of water.

Shikun & Binui Energy reports that it has a contract to sell the electricity produced from the field until 2046. The cost of building the project has been about NIS 80 million and it will produce estimated annual; revenue of NIS 8-9 million, or about NIS 225 million, over 25 years. The project has been financed by Israel Discount Bank (TASE: DSCT).

The 23 megawatts produced by the field will be sufficient to supply electricity to about 3,000 households. The project comprises 51,500 solar panels.

Published by Globes, Israel business news - en.globes.co.il - on October 6, 2021