Recurrent Energy and Greensol Alternative Energy to Develop Solar Projects in Israel

Recurrent Energy an autonomous power producer and developer of solar power projects has signed a joint development accord with Greensol Alternative Energy Ltd a solar power system developing company from Israel for financing, constructing and operating distributed-scale type of rooftop and ground mounted solar photovoltaic power producing plants all over Israel.

As per the clauses Greensol and Recurrent Energy have decided to work together on the first 50 MW projects managed during the first three years, and Greensol is expected to hunt for opportunities for developing terrain mounted, and roof top based power projects on private lands, community homes and government buildings which improves the capability of the company by using the medium sized solar tariff of Israel. On identifying such an opportunity Recurrent Energy will establish it on a turnkey basis. The energy generated will be supplied to the utility and Recurrent Energy will be paid as per the prevailing feed-in tariff policy of the Israeli government.

The local development proficiency of Greensol and the past global experience of Recurrent Energy in financing and managing of the distributed PV power plants  elsewhere in Europe is expected to lure the commercial and industrial building and land owners in Israel in leasing out their unused land or roof tops for the generation of solar electric power.

While commenting on the agreement, Recurrent Energy’s, Managing Director for International Development, Karl Knight said the current agreement with Greensol actually speeds up the projects in the pipeline, and helped the entry of Recurrent Energy into the fast developing solar market of Israel, which has wide prospects

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