Shikun & Binun Renewable Energy Ltd. announced today that it will sell its holding in solar energy projects in Spain for €45 million (NIS 190 million); Shikun & Binui's share in this payment will be 50%.
The announcement regards projects totaling 13 megawatt, owned equally with Sunflower Sustainable Investments Ltd. (TASE: SNFL). Shikun & Binui's announcement says that the deal has already been finalized for a 7 megawatt project, and the completion of another 6 megawatt project deal is pending approval from the project's financing bank.
Shikun & Binun Renewable Energy is the renewable energy branch of Shikun & Binui Holdings Ltd. (TASE: SKBN), controlled by Shari Arison. The company develops, plans, constructs and operates of power plants in Israel and aboard run on natural gas and renewable energy, including thermosolar and photovoltaic solar energy. The company specializes both in independent development and in cooperation with the public sector, in publicprivate partnership (PPP) projects.
Shikun & Binun Renewable Energy CEO Yaron Szilas said, "The sale realizes Shikun & Binui's strategy: to initiate, develop, build and operate renewable energy projects worldwide, and sell them upon realization of their maximum potential. This sale is part of a plan to expand our investments in various international markets and in Israel in the fields of renewable energy. These projects will enable the diversification of energy sources in Israel and worldwide with non-polluting sources ensuring clean energy for us and for future generations."
Published by Globes [online], Israel business news - www.globes-online.com - on October 9, 2016
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