Israel’s Teralight to buy 16.5 MW rooftop PV portfolio

Israeli developer Teralight says it is buying 16.5 MW of solar projects for ILS 25 million ($6.4 million) from gas supplier Electra Power. It expects to generate ILS 320 million of income over the lifetime of the projects.

Israeli developer Teralight said in a recent statement that it is acquiring a 16.5 MW rooftop PV portfolio from Israeli gas supplier Electra Power for ILS 25 million, via its Solar Tech subsidiary.

In September, Electra Power announced plans to pull out of the Israeli PV market.

Teralight said the portfolio includes projects that are already connected to the grid or about to be, but 10 MW of the projects are still in the development stage.

“This portfolio will further expand our projects in Israel, being an additional growth engine for our company,” said Teralight CEO Rani Lifshitz. “It will be added to other projects in Israel, amounting to hundreds of MW.”

This post appeared first on PV Magazine.

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