Thursday, December 27, 2007

Australian fund considers Negev solar plant bid

Sources inform ''Globes'' that Babcock & Brown Capital Ltd. of Australia is considering participating in the tender to build a $600-700 million solar power station in the Negev. The tender is due to be published in 2008.

Babcock & Brown wants an Israeli energy company as a partner. The Australian investment company is the second international company expressing an interest in the tender; Spain's Abengoa Bioenergy SA has contacted the Ministry of National Infrastructures about it.

The 250-megawatt solar power station will be built at Ashalim in the central Negev under a BOT (build, operate, transfer) contract.

Babcock & Brown's portfolio already comprises thirteen operating power stations representing over 3,300MW of generation and a further 1,700MW under construction. The firm announced in June 2007 that it was opening an office in Israel to be headed by the former privatization chief Eyal Gabbai.