Shikun & Binui cuts ribbon on 23-MW floating solar park in Israel

• The power arm of Israeli infrastructure and also realty group Shikun & Binui Holdings Ltd (TLV: SKBN) has actually formally opened a 23-MW floating solar park in Israel, proclaimed as the country's biggest one of its kind, the Globes reports.

The plant, furnished with 51,500 solar (PV) panels, was set up at the Habonim water tank at an investment of ILS 80 million (USD 24.8 m/EUR 21.4 m). The designer approximates that its operation will certainly bring fetch between ILS 8 million and ILS 9 million in earnings every year. The installment is prepared to operate for 25 years.

The electricity created by the solar park is approximated to be enough to cover the consumption of around 3,000 homes. The output will be offered under a contract ending in 2046.

Financial obligation financing for the project was offered by Israel Discount Bank