Negev Energy: Introducing an innovative solar technology in Israel’s Negev Desert
Sector: Renewable energy
Challenge: Israel derives most of its electricity from traditional fuel sources but has committed to generating 10% from renewable sources by 2020.
Solution: OPIC committed to provide $250 million in financing to support construction of a 110-megawatt solar plant in Israel’s Negev desert. While OPIC has provided financing to multiple solar power projects, this will be the first time OPIC has supported a solar thermal electricity (STE) power plant, which increases power generation capacity by using rotating parabolic mirrors that follow the position of the sun throughout the day to concentrate the sun’s radiation. The plant will be the first large-scale STE plant with thermal energy storage in Israel.
Impact: In addition to supporting job creation in one of the country’s least developed areas, the project will help Israel reach its renewable energy targets.
This project was profiled in 2015