Brenmiller Energy, a developer of advanced energy storage systems, will cooperate with Spanish company Isolux in a tender for construction of a 150-megawatt solar power station in South Africa.
Isolux operates in 40 countries. Its 2015 revenue totaled €2.18 billion, and its orders backlog was €6.8 billion. The company has erected 60 solar power stations with an aggregate capacity of 740 megawatt to date.
Under the agreement between the two companies, Brenmiller's energy storage systems will account for half of the project's estimated $500 million overall cost. The South African tender, slated for publication towards the end of the current year, constitutes part of a 450-megawatt annual allocation.
Former Solel Solar Systems CEO Avi Brenmiller founded Brenmillier Energy in 2012, and serves as company CEO. The solar energy storage technology developed by the company makes it possible to also supply clean electricity at night. On an annual average, the company is expected to produce three or more times as many hours of clean electricity as the existing solar power plants, at competitive prices. In the current tender, the rate will be $0.10 (less than NIS 0.40) per kilowatt hour.
"The selection by Isolux constitutes an important vote of confidence in our storage technology," Avi Brenmiller said. "Storage is the holy grail of the renewable energy industry, and widespread implementation of reliable storage solutions is likely to change the energy market from top to bottom, and improve the quality of our environment. We're at the beginning of the road now, and we're convinced that we'll be among the leaders of this welcome change."
Published by Globes [online], Israel business news - www.globes-online.com - on June 22, 2016
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