Megalim Solar Power Ltd.

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. The company’s “Or Rifman” power station operates in Ashalim (Plot B) with 121 MW load and provides more than 300 million KW h of clean electricity annually to Israel’s national grid. Megalim's Ashalim Plot B power station is part of a solar complex which includes also a second solar-thermal station of parabolic Troughs technology with a capacity of 121 MW and two Solar PV facilities with 75 MW combined capacity. 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. 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.