The plant will sell its power to Israel Electricity Corporation under a 25-year power purchase agreement (PPA) after it begins operations.
It will be based on Abengoa’s parabolic trough technology and feature 4.5 hours of energy storage using molten salt.
Construction is due to begin this month – later than the original plan, which envisaged work beginning before the end of 2014.
Abengoa and Shikun & Binui said finance was raised from a variety of sources, including the US Overseas Private Investment Corporation (OPIC), the European Investment Bank (EIB) and several local commercial lenders.
The
