Renewable Energy Company
Solgreen
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It has signed a framework agreement with Tadiran, according to which Solgarin will purchase from Aviam, which is a subsidiary of Tadiran, energy storage systems with a total capacity of up to 600 megawatts per hour, for all of the company’s combined solar storage and storage projects in Israel. The total cost of the agreement is up to about $ 130 million, with the supply of the systems expected to be spread over the next two years, and accordingly the payment for them.
In October 2021, the Tadiran Group completed the acquisition of Aviam for approximately NIS 30 million (excluding additional amounts that depend on meeting milestones). Aviam, a company that has been operating for about 50 years in the field of electrical energy systems of various types, including: uninterruptible power supplies, power supplies and chargers, batteries, frequency converters, as well as batteries and a system for managing the charging of electric vehicles in residential buildings.
The systems, which Solgrin is expected to purchase under the framework agreement, are intended for installation in projects that the company will establish by virtue of winning Competition No. 2 of the Electricity Authority (photovoltaic power generation combined with storage capacity), and in projects initiated by the company in the field of energy storage facilities (Microgrid).
In the more distant future, Aviam may increase its revenues from this transaction, if and when – after the expiration of a 5-year warranty period – Solgarin exercises its right under the agreement to enter into an annual service agreement with Aviam for up to 18 years and / or an agreement to increase battery capacity. .
In accordance with the framework agreement, Aviam will be responsible for efficiency, availability and storage capacity in accordance with the values set forth in the framework agreement and for responsibility for repairing faults in accordance with accepted service and availability (SLA) metrics in the field.
The framework agreement also includes an agreement for the provision of warranty services, preventive maintenance and system augmentation by Aviam for a basic period of five years from the date of installation and final delivery of each system, at no additional charge to the system price.
The storage systems that Solgrin will purchase were characterized by Aviam in accordance with Solgrin’s needs, and include an integrative solution based on storage systems made by SMA Germany, which is one of the world’s leading manufacturers in the field of energy storage solutions.
Tom Shafran, CEO of Solgreen: “Today we are updating on a framework agreement to make purchases for storage systems on a significant scale. This agreement is expected to provide a solution to all the company’s needs in the field of storage in relation to the projects that Solgrin will establish in Israel during the next two years. “After a lengthy and careful tender conducted by Solgarin, which focused on the overall package of the storage solution, the company chose a solution proposed by Tadiran, which surpassed the other bids it received in all parameters.”
Moshe Mamrod, CEO and controlling shareholder of Tadiran: “The deal with Solgrin proves that the acquisition of Aviam is very successful for the group – in a period of less than a year from the date of signing. We are proud to partner with a strategic partner like Solgreen in a market with huge potential like the storage market. Tadiran’s goal was and still is to produce a complete solution for anyone who needs energy storage. We will continue to work to identify business opportunities and collaborations in the energy market in the coming year as well. ”
Ran Abodi, CEO of Aviam: “This is the largest transaction in the energy storage market in Israel. A few months ago, we set a goal to be a leading and significant player in the energy storage market in Israel, and indeed, in a relatively short time, the initial goal was achieved. Solgrin was present in the abilities of Aviam / Tensor. Knowledge and experience of over 50 years combined with engineering ability and execution at the highest technological levels. ”
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