California-based BrightSource and its partner Alstom, which recently deepened its investment in the CSP specialist, expect to plough $600m-$700m in the plant, which will be based on BrightSource's cutting-edge tower technology.
The consortium will receive 0.79 new sheqels ($0.20) per kWh of electricity generated over a 28-year period, before the project is handed over to the Israeli government.
The announcement adds a much-needed jolt of momentum to the Israeli renewables market after Siemens – owner of Israel-based CSP manufacturer Solel – recently walked away from the solar business, with plans to lay off at least 70 workers in Israel.
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