Sep 22 2010
Ormat Technologies, Inc declared that Ormat Systems Ltd its Israeli subsidiary company has contracted a Memorandum of Understanding (MOU), with Solar Millennium AG to forge a syndicate to partake in the 120 MW.
Ashalim solar power plant development tender to formulate, build, and operate the plant to be located in Israel. The tender is called for the BOT (build, operate and transfer) type of solar thermal power plant where the government of Israel will offer the land for construction. The power produced from the plant needs to be transferred to the Israel Electric Corporation (IEC) power grid for the BOT operating period which will be about 25 years.
The signed agreement will empower Solar Millennium to provide the required technology for the project while Ormat will provide the power producing equipments, other requirements of the plant and its building operations. Ormat will own nearly 68% of the stakes while Millennium will own rest of the 32% stakes. The companies have already crossed the pre-qualification phase and were requested to provide their offer in the tender for plot A.
Lucien Y. Bronicki, who leads Ormat Technologies as its Chief Technology Officer and Chairman of the Board, said that the syndicate will bring in the efforts of the two leading companies in to the venture. He narrated the experience of Ormat Technology in its development ventures in various countries and said that the successful bidding of Ashalim tender will enable the company to increase its solar thermal power providing activities in which it has a know how and expertise.
Source: http://www.ormat.com/