Solegreen said in a recent statement to the Tel Aviv Stock Exchange that it will start building nine solar-plus-storage projects with a combined capacity of 210 MW/470 MWh across different locations in Israel.

The Israeli Electricity Authority selected the projects in a 2020 tender. The facilities will sell power at ILS 0.1745/kWh to Israel Electric Corp. However, the company said it might also decide to sell some of the power at market rates.

Solegreen said it plans to complete the first projects, totaling 55 MW/120 MWh, by the end of this year. pv magazine has learned that five projects will be set up in the Gaza envelope region, one in the Arava region, and three in the northern part of Israel.

Solagreen has secured an ILS 900 million loan from a consortium of lenders led by Israel’s Leumi Bank and local insurer Menorah Group.