The company will invest NIS 30 million in a wind energy company in receivership.
Environmentally friendly energy company Energix is trying to take advantage of an opportunity to expand its activity on the Golan Heights. The company announced yesterday that it had come to an agreement for acquiring a company owning a wind energy project for NIS 30 million. The wind energy company, owned by the Melamed family and Zahal Harel, is current bankrupt and in receivership. In order to carry the deal through, Energix will have to get through several proceedings, including obtaining court approval and coming to an arrangement with the company's current shareholders.
The project to be acquired, located on the Tel Asania ridge (Mt. Bnei-Resen) in the northern Golan Heights, the only place in Israel where electricity is produced from wind power, was built in the 1990s, and operates with a limited capacity of only a few megawatts. If Energix obtains the necessary approvals for buying the project, it is expected to make additional investments on a large scale estimated in the tens of millions of shekels for the purpose of upgrading it to an estimated 15-megawatt capacity, subject to the conditions necessary for hooking it up to the national power grid.
The project is located near another substantial project that Energix has been promoting for many months.
Published by Globes [online], Israel business news - www.globes-online.com - on June 29, 2015
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