Provincial Energy Minister, Brad Duguid, recently toured a hydroelectric project in Kapuskasing, Ontario to promote the province’s push for a greener and more sustainable economy. During his visit, Duguid stated, “I really think the Green Energy Act is good for the North,” referring to the provincial government’s legislation designed to bolster investment in a cleaner,
renewable energy projects
Ormat Technologies, Inc., announced today that its Israeli subsidiary, Ormat Systems Ltd., has signed a Joint Venture Agreement (“JVA”) with Sunday Energy Ltd. (“Sunday”), an Israeli solar integration company, to construct and operate solar-photovoltaic (“PV”) energy systems in Israel with a total capacity of 36 megawatts (MW).
Under the JVA, Sunday will contribute the rights to all of its property and roofs required to develop solar energy systems above 1 MW to special purpose entities (“SPEs”). Ormat will own 70% of each SPE and will also have control of it. Under the terms of the agreement, Ormat and Sunday will act, jointly, as the engineering, procurement and construction (“EPC”) contractor and the operator of each project in accordance with each company share in the SPEs .