Sunday, January 13, 2008

IC Green Energy to enter Negev solar power plant tender

Sources inform "Globes" that Israel Corp. subsidiary IC Green Energy will participate in the BOT (build, operate, transfer) tender for the Negev solar power plant at Ashalim.

IC Green Energy (ICG), headed by CEO Yom Tov Samia, was founded in 2006 by Israel Corp. to serve as its renewable energy arm. So far, ICG has examined a number of overseas projects in the field of alternative fuel and electricity generation. According to its web site, the company is focused on biofuel (biodiesel & ethanol), solar energy and the production of biofuel and energy from biomass.

Israel's first tender for a solar power plant will be for the construction of two power stations that will generate 250 megawatts altogether, amounting to 2.5% of Israel's power production. The project is valued at $600-700 million.

Other potential builders of the plant include Israeli solar power companies Solel and Luz II, a subsidiary of BrightSource Energy. Spanish energy giant Abengoa and Babcock & Brown Capital Ltd. of Australia have also expressed interest in participating in the tender.

For additional background information on this project, see:

"Israel Plans 250-MW solar power plant"

"Australian fund considers Negev solar plant bid"