|Negev Energy—Ashalim Thermo Solar Ltd.—S&B Owns 50%
|Shikun & Binui
|Construction ended in 2018, and it is now being operated for 28 years
In 2015, early into construction, the Abengoa group (who at that point owned 50% of Negev Energy—the company that served as the developer/concessionaire of Ashalim) went into significant financial difficulties and was forced to leave the project. To get the project back on track, Shikun & Binui needed to step in and take the lead. Shikun & Binui Energy holds 50% of Negev Energy which served as the developer/concessionaire of the project.
This project also includes a natural gas power plant which produces 15% of the energy on site. The successful effort of Shikun & Binui, allowed the project to continue almost seamlessly while new partners were added both the EPC and the developer and we managed a complex re-finance that allowed the project to continue under the original contracts. The project was completed on budget and on spec with negligible impact to the original schedule.
This project is currently in the operations phase, Shikun & Binui is part of the team that continues to operate and maintain this asset. The maintenance period is 28 years. The power plant covers an area of about 1,000 acres and provides power to approximately 60,000 households. The power plant commissioning was as an important milestone in realizing the national goal of generating 10% of Israel’s power through renewable energy by 2020.