Ormat Technologies Inc. has announced that the company’s Israeli arm Ormat Systems Ltd. has entered into an MoU with the company Solar Millennium AG for forming a consortium towards participating in a tender for developing, constructing and operating a solar thermal energy plant located in Ashalim, Israel, with an overall 120 MW capacity, approximately.
Under the MoU, Ormat Technologies will be supplying the power block, construction and balance of plant services while Solar Millennium will be providing the technology needed for this solar field. Ormat Technologies will own 68% of this consortium while Solar Millennium will own 32%, approximately. Both the parties have passed the pre-qualification stages successfully while the companies were invited for submitting the bid.
This is a BOT (build, operate and transfer) tender with an approximate time period of 25 years while the land is provided and owned by the Government of Israel. The electricity produced from this plant will be fed into the energy grid of IEC (Israel Electric Corporation). Solar millennium happens to be a German stock company that specializes in the realization and development of the solar thermal plants, worldwide, while Ormat Technologies is engaged in the power business of recovered energy and geothermal energy.