Main steps had been taken yesterday as two enormous photo voltaic vitality initiatives moved ahead in direction of the manufacturing stage. In Israel, Rapac Power and Mivtach Shamir unit Shamir Power closed financing with Israel Low cost Financial institution for development of Israel’s largest photo voltaic vitality undertaking that may embrace a full gigawatt-hour of storage capability.
Rapac Power and Shamir Power signed a financing settlement with the financial institution for NIS 800 million to construct the massive photo voltaic vitality manufacturing facility within the Negev, on 1,400 dunams of land (350 acres) owned by a “giant industrial firm within the Negev” south of Beersheba. The power can have a manufacturing capability of 174 megawatts, and can have a storage capability of 974 megawatt-hours. The undertaking can be 75% owned by Rapac, and 25% owned by Shamir Power.
Low cost SVP enterprise division head Hilla Eran Zick mentioned, “Financing for this undertaking, along with our main companions, displays our uncompromising dedication to making a long-term constructive affect on the surroundings and the event of the Negev.”
Rapac Power CEO Itai Hagai added, “We’re happy to finish the monetary shut and launch the development of the most important photovoltaic undertaking in Israel, working available in the market regulation mannequin within the transmission community. The undertaking relies on an progressive dual-use resolution, which permits for optimum utilization of the land useful resource and a big shortening of the schedules for connecting a facility of this scale to the grid.
Shamir Power CEO Lior Farber mentioned, “This is likely one of the largest and most superior infrastructure initiatives ever seen in Israel, combining photo voltaic manufacturing with storage on a big scale.”
Every part is larger within the US
Within the US, Enlight Renewable Power (Nasdaq: ENLT; TASE: ENLT) introduced the achievement of serious milestones within the CO Bar undertaking in Arizona, with an funding of between $2.9 and $3 billion – between $1.5 and $1.6 billion after tax advantages.
Because of the early closing, Enlight says, they’re reaching a protected harbor that may enable them to acquire the numerous tax advantages that the US authorities granted however lately revoked for firms that don’t full their initiatives within the coming years. This can be a enormous undertaking, which can be developed in 5 phases with a complete provide of 1.2 gigawatts (bigger than a brand new typical energy plant in Israel) and with an vitality storage capability of 4 gigawatt-hours – greater than 4 occasions the most important undertaking at the moment deliberate in Israel.
Enlight has already signed off on its operation, and says, and the complicated will produce inexperienced electrical energy for greater than 215,000 households in Arizona. It’s anticipated to generate ongoing income of between $264 million and $278 million every year from the sale of electrical energy. Based on Enlight, it is going to be one of many largest initiatives within the US.
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Enlight CEO Adi Leviatan mentioned, “CO Bar represents a serious step ahead for Enlight’s US platform. Reaching full interconnection and finishing the business framework for such a large-scale, built-in photo voltaic and storage complicated demonstrates our capability to execute at scale, deepen partnerships with main utilities, and ship long-term worth from high-quality renewable belongings. As demand for dependable, clear energy continues to speed up, CO Bar and our increasing US portfolio firmly place Enlight for sustained development within the US market.”
On Nasdaq yesterday, Enlight’s share worth jumped 6.08% to $58.95, giving a market cap of $7.789 billion.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on February 3, 2026.
© Copyright of Globes Writer Itonut (1983) Ltd., 2026.
