GWE is in the final stage of financial close and has signed a preliminary agreement with Goldwind to supply six GW103 2.5MW turbines, said Zahal Harel, chief executive of GWE.
The China Development Bank (CDB) will provide a loan covering 70% of the project cost, with a 15-year term and two years' grace. Harel hopes to reach financial close by the end of February and start construction in April, for completion by the end of the year.
GWE is also developing a 155MW project in the same area. Harel says the company hopes to complete the permitting process this year.
Israel is targetting 800MW of wind energy by 2020. In 2011, the government introduced a feed-in tariff of NIS 0.53/kWh (€0.11) for plant approved before 31 December 2013 and NIS 0.49/kWh after that date.
Israel to repower Golan Heights wind farm
ISRAEL: The repowering of Israel's only wind power plant, a 6MW installation on the Golan Heights owned by Mei Golan's Green Wind Energy (GWE), looks set to go ahead.
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