Prime Energy has entered into an agreement with the Harel Group for a credit facility of NIS 60 million for the construction of a solar facility with a volume of approximately 22.5 megawatts | The agreement with Harel is part of a framework agreement to finance solar projects with a cumulative volume of about 100 megawatts and a monetary amount of up to NIS 350 million | At the same time, the company updates that it provided the IEC with guarantees in the amount of NIS 71 million and realized its winning of 475 megawatts (AC) in a dual-use tender.
Shi Klein 03.01.2022
The renewable energy company Prime Energy continues to expand its operations. The company updates that it has entered into a financing agreement with the Harel Insurance and Finance Group for a credit facility of up to NIS 60 million. The funding is for the construction of a solar facility for the production of electricity with a capacity of 22.5 megawatts (DC), near Moshav Tlamim. The solar installation in the furrows is expected to connect to the electricity grid by virtue of Competitive Procedure No. 4 for ground systems.
This financing agreement is the first financing agreement, out of a number of financing agreements that Prime Energy is expected to sign with the Harel Group during the first quarter of 2022, in connection with the financing and re-financing of the company’s solar projects in Israel with a cumulative capacity of up to 100 MB. -Wat (DC) and in a total amount of up to NIS 350 million.
At the same time, the company updates today that it realized its 475-megawatt (AC) power gain in November as part of competitive procedure No. 1 for the construction of dual-use facilities that will be connected to high voltage and low voltage, by providing guarantees of NIS 71.25 million in accordance with the competition procedure.
In this context, the company updates that it is currently submitting to the IEC requests to open connection cases with a capacity of 224 megawatts (AC), with the company anticipating that during the first quarter of 2022 additional connection requests will be submitted in relation to the winning balance.
Yaron Kikuz, Chairman of Prime Energy: “We are updating today on the first project that will be launched as part of our cooperation agreement with the Harel Group in the field of financing. The project in Tlamim, which will be completed in the first quarter of 2022, is the first of a series of dozens of projects we intend to establish during the coming year, with a total volume of about 80 megawatts (in addition to about 20 megawatts that are in commercial operation), which will support the growth trend of Prime Energy in the Israeli market, in parallel with the continued progress in the development of the company’s international operations in Italy and Romania. In the Israeli market, at the end of 2022 Prime Energy will connect facilities with a capacity of about 80 megawatts (in addition to the 20 already connected), while by the middle of 2024, the company is expected to connect facilities with a capacity of 780 megawatts, and hold a total of Israel Facilities with a capacity of 880 megawatts. ”