June Edition 2021

43 Perhaps more of that can be expected too. With a Biden White House, there has been a renewed focus globally on the energy sector, and especially renewables. The previous government was keen to promote the sector. Last October, the government approved a proposal by then Energy Minister Dr. Yuval Steinitz aiming to produce 30% of the country's electricity from renewable sources by 2030, with an emphasis on solar energy. With a new coalition government in the offing, and Energy Minister Karine Elharrar (Yesh Atid) at the helm, it will be interesting to see this how moves forward. The main sectors that have been active in Israel are solar, wind and hydro (pumped storage). In the past year, Enlight has closed financing on the Bereshit (Genesis) 189 MW wind farm in the north of Israel and are heading towards completion of the Emek Habacah wind project. Enlight also refinanced five ground PV Projects. Meshek Energy has completed an IPO and bond issuance to raise finance for the construction of PV projects. There are big infrastructure companies in Israel, such as Shikun & Binui, involved in renewable energy projects. Located in the Negev desert near the kibbutz of Ashalim, this is Israel’s largest renewable energy project – a 121 MW thermo- solar power plant, a USD 1.1 billion plant, a public-private partnership (PPP), while the country said it would establish hundreds of wind turbines in the north, with Genesis Wind designed to be Israel’s biggest wind farm, with 42 turbines generating 189 MW at a site not far from the Israeli-Syrian border. Main sectors in Israel: Solar, wind and hydro Israel aims to produce 30% of the country's electricity from renewables by 2030