# New Solar Energy Project to be Established in Ashkelon
## Overview of the Project
Negav Energy, a subsidiary of Shikun & Binui Energy and Noy Fund, has signed a concession agreement with the government to establish a combined photovoltaic and energy storage facility in Ashkelon. Scheduled to operate until 2043, the project will utilize the vacant areas of an existing thermosolar project managed by Shikun & Binui Energy.
## Project Details
The plant will have a capacity of 150 megawatts and an energy storage capability of 460 megawatt-hours. Operated under a BOT model (Build, Own, Transfer), the project represents a significant investment in renewable energy infrastructure in the region.
This ambitious initiative emphasizes the growing importance of solar energy and storage solutions in Israel's energy sector, aiming to enhance sustainability and reduce reliance on fossil fuels.
## Financial Aspects
The total investment for this solar project is estimated at 590 million shekels, underscoring the financial commitment from both partners in bringing this green energy solution to fruition.
## Implications for Energy Infrastructure
This project is set to play a vital role in Israel's energy landscape, contributing to the country's goal of increasing renewable energy usage. As part of broader efforts to improve energy infrastructure, this facility will help meet growing demands for sustainable energy sources in the region.
## Conclusion
The establishment of this photovoltaic and energy storage facility marks a positive step forward in Israel's commitment to renewable energy. As the project progresses, it is expected to facilitate a cleaner energy future and support the development of sustainable energy solutions in the country.
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**Tags:** Renewable Energy, Solar Energy, Israel, Energy Storage, Photovoltaic Technology, Shikun & Binui, Noy Fund
**Meta Description:** Negav Energy will establish a new 150 MW solar energy project with energy storage in Ashkelon, set to operate until 2043, highlighting Israel's commitment to renewable energy.
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