Enerqos says the project “aims to harness the opportunities offered by the Israeli market thanks to local feed-in tariffs aimed at furthering development within the solar sector (350 MWp over the course of the next three years) and thanks to the favourable climate of the country characterised by a high volume of sunshine.”
The three companies hold equal shares in the GEM Solar JV.
“We are confident we have chosen the right partners for this new challenge on such a promising new market as that of Israel. We will benefit from the skills and expertise of Ginergia, which is already extremely active in the residential photovoltaic sector, in terms of engineering capabilities and diffusion within the territory. On the other hand, the Menorah Group will bring its experience within the telecommunications and electronics sectors,” says Giovanni Landi, Vice President of Systems Marketing at Enerqos.
The solar JV has several projects in the pipeline already.