Teralight has started building Israel’s largest solar park. The Ta’anachi solar project has an installed capacity of 250 MW and storage of 550 MWh. It is located in the Jezreel Valley in northern Israel and will start operations in the first half of 2024.
The project was launched last week together with the Moshavim settlement movement and Israel’s Ministry of Environmental Protection. It is expected to start operations in the first half of 2024 and will require a total investment of ILS 9 million ($2.46 million).
According to a LinkedIn post by Teralight business development economist Doron Kolli, the Ta’anachi solar project includes 550 MWh of battery energy storage. He added that the first part of the project, totaling 150 MW of solar energy, is based on a 23-year Power Purchase Agreement (PPA) with the State of Israel, while the remaining 110 MW of solar energy and 550 MWh of storage are based. with a private PPA.
“This PPA is expected to be the largest private PPA to be concluded in Israel in the new wholesale electricity market under construction,” Koll said.
The Israeli government recently introduced new regulations allowing bilateral power purchase agreements between independent power producers and end customers.