• 5 minutes Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 9 minutes Sell out now or hold on?
  • 16 minutes Oil prices going down
  • 44 mins Oil prices going down
  • 3 hours Oil and Trade War
  • 1 hour After Three Decade Macedonia End Dispute With Greece, new name: the Republic of Northern Macedonia
  • 3 hours When will oil demand start declining due to EVs?
  • 16 hours Two Koreas Agree To March Together At Asian Games
  • 5 hours Sell out now or hold on?
  • 7 hours Correlation Between Oil Sweet Spots and Real Estate Hot Spots
  • 5 hours Russia and Saudi Arabia to have a chat on oil during FIFA World Cup - report
  • 3 hours venezuala oil crisis
  • 2 hours Trump Hits China With Tariffs On $50 Billion Of Goods
  • 3 hours Germany Orders Daimler to Recall 774,000 Diesel Cars in Europe
  • 20 mins What If Canada Had Wind and Not Oilsands?
  • 7 hours Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 16 hours Geopolitical and Political Risks make their strong comeback to global oil and gas markets
  • 13 hours Trump Renews Attack On OPEC Ahead Of Group's Production Meeting
  • 1 hour The Wonderful U.S. Oil Trade Deficit with Canada

Breaking News:

Egypt Raises Fuel Prices By Up To 50%

Israel Electric Corp. to Build $1.3 Billion Chinese Solar Project

Israel Electric Corp. has signed contracts to build a $1.3 billion 240 megawatt solar energy project in China.

The facility, to be situated in northern China, will consist of three photovoltaic solar energy arrays. Israel Electric Corp. will not invest equity in the project.

The solar array represents Israel Electric Corp.’s first foray into solar renewable energy and is awaiting the Israeli Government Companies Authority’s approval. The project is Israel Electric Corp.’s largest foreign undertaking.

The Israel Electric Corp. will build the facility in conjunction with its joint venture partner, a Chinese businessman, with the 240-megawatt PV solar arrays being constructed on the Chinese partner’s private land, Globes business daily reported.

A Chinese manufacturer will supply the project’s photovoltaic panels. Israel Electric Corp. will own 50 percent of the engineering, procurement and construction company that will build the project, the Chinese partner will own 25 percent as required by Chinese law, and a large foreign contractor of solar arrays will own the remaining 25 percent.

Israel Electric Corp.’s other foreign energy ventures include designing a coal-fired power station in South Africa in conjunction with France's Alstom SA, a wind energy project in Bulgaria and power station construction in Cyprus and Greece.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News