The funding will come from the European Investment Bank and Israel's largest bank, Hapoalim.

The financing was obtained through Megalim Solar Power,a joint venture between Alstom, which has a 25% stake, US-based BrightSource (25%) and the Noy Infrastructure and Energy Fund (50%).

Located in the Negev Desert, Ashalim will supply more than 120,000 homes in the area and employ about 1,000 local people.