Megalim solar power ltd

Who owns Megalim Solar power?

Megalim Solar Power LTD is a B.O.T. concession company owned by Noy Fund (74.95%) and GE Renewable Energy (25.05%). The company has won the tender by the State of Israel for the construction, planning, financing and operation of a solar-thermal power plant by Solar Tower Technology.

Where is Megalim Solar power station located?

The Megalim Solar Thermal Power Station, located in Ashalim, in "Ramat Negev" Regional Council, is one of the largest projects of its type in the world. It is also the first solar thermal or concentrated solar power (CSP) plant in Israel.

How does Megalim Solar thermal energy work?

Megalim's solar thermal energy system is engineered to produce predictable, reliable and cost-competitive clean energy when needed most. The solar thermal energy systems generate power the same way as traditional power plants – by creating high temperature steam to turn a turbine.

What is Ashalim solar power?

The Ashalim solar complex is an important element of Israel's Commitment to produce 20% of its electricity from renewable sources by 2025, rising to 30% by 2030. Megalim Solar Power LTD is a B.O.T. concession company owned by Noy Fund (74.95%) and GE Renewable Energy (25.05%).

Why is Megalim a renewable power station?

Since its completion, Megalim’s power station is producing renewable energy power which contributes to CO2 emissions reduction into the atmosphere in a scale of 120,000 tons per annum, and which is an equivalent to the annual needs of about 40,000 households, under a 25-year Power Purchase Agreement with the State of Israel.

How does Megalim work?

However, instead of using fossil fuels or nuclear power to create the steam, Megalim uses the sun’s energy. At the heart of the solar thermal system is the next-generation solar field design, optimization software and a control system that enable the creation of high pressure, high temperature steam.