Afcon company
Apcon holdings
-0.09%
Base:11,450
opening:11,450
High:11,450
low:11,390
change:127,151
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The company, which carries out infrastructure projects, electromechanical systems, communication, control and automation, won a tender held by the Israel Electric Company for the design and supply of energy storage systems in batteries with a total volume of about 200 megawatt hours, in exchange for a total of about 56 million dollars.
The framework contract is for a period of one year with the option of the electric company to extend it for another year. Also, the electric company has the right to order additional systems of the same scope and at similar prices, within three additional years from the completion of the supply of the above systems. In accordance with the terms of the tender, the electric company may expand the content of the works and order additional works stipulated in the tender. The project is realized in accordance with the plan of the Ministry of Energy and Infrastructure to increase electricity production from renewable energy.
The storage solution should allow an electricity company to balance the grid and flow electricity accumulated from solar systems in the south during non-daylight hours, thereby continuing to maintain a continuous supply of electricity throughout the country even during times of peak demand at cheaper prices.
Afcon shares fell by 22% since the beginning of the year to a price of NIS 114.4, representing a market value of NIS 579 million.
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