Arava Power Company Israel s leading solar energy developer Est. 2006
Who is Arava Power? Arava Power Company is Israel s leading solar developer and a pioneer in mid size and large size solar fields using photovoltaic technology. Founded in 2006, Arava Power seeks to supply Israel with hundreds of megawatts of solar energy through alliances with kibbutzim, Negev Bedouin and other land owners, especially in the south of the country. Arava Power has a planned pipeline of over 400 megawatts, comprising an investment of approximately $1.5 billion.
Partners and Leadership APC was founded in 2006 by Yosef Abramowitz (President), Ed Hofland of Kibbutz Ketura (Chairman), and David Rosenblatt of New Jersey (Vice Chair).
Management and Staff CEO: Jon Cohen Deputy CEO: Brig. General (Res.) Shelly Gotman Corporate Strategy Officer: Ira Green Chief Financial Officer: Eran Litvak VP Operations & Projects: Yanir Allouche VP Property Development: Israel Gilad
Israel s First Commercial Solar Field On June 5, 2011, Arava Power Company launched Israel's first commercial solar field at Kibbutz Ketura a 100 million NIS installation financed by Bank Hapoalim.
Ketura Sun Ketura Sun covers an area of 80 dunams (8 hectares or 20 acres) on the southern edge of Kibbutz Ketura. Total installed power: 4.95 MW The field is made up of 18,200 Suntech photovoltaic solar panels that produce a total of 9 million kilowatt hours per year. Construction of the field was done over a period of sixth months.
Israel s First Bedouin Solar Field On February 7, 2012, Arava Power announced that they had received a license for the Tarabin Solar Field, the first solar field for the Bedouin community. Financing for the $30 million Tarabin installation is to be provided by OPIC the Overseas Private Investment Corporation of the US Government.
Israel s First Large Solar Field On March 12, 2012, the PUA granted a provisional license to APC for a large size photovoltaic solar installation at Kibbutz Ketura, located 50 km north of Eilat in Israel s Arava Valley. On track to be the first of its size to go online in the country as it has already completed the complicated environmental and related planning processes.
Future Projects On May 22, 2012, APC unveiled two separate financial closes on 8 medium size solar fields totaling 58.5 MW for a total investment of 780 million NIS.
Renewable start up nation? Israel is a world high tech leader, thanks to government support. Infrastructure projects do not enjoy same government support. Renewable energy projects have suffered under government obstacles and challenges. THERE IS A SOLUTION.
Interim Quotas to Reach Goals 5% renewables by end of 2014 ISRAEL CAN DO IT. ISRAEL NEEDS TO DO IT. 5% = 3.1 billion kwh = 1800 MW Currently installed: Less than 300 MWs We risk falling short in 2015 by 1.35 billion kwh, 800 MW. Investor and developer confidence can be restored IF we implement new interim quotas before we reach grid parity.
Interim Quotas to Reach Goals 800 MW of interim quotas for PV today: Fill the numeric gap: Give wind, biomass and solar thermal quotas to PV for immediate implementation Are easily "absorbed" by GRID with just some minimal IEC fine tuning. Will actually cost the National Economy around 150 million shekels per annum LESS than originally planned. (Solar prices have dropped globally!)
Interim Quotas to Reach Goals Why? Government decision goals being met, project reliability, security, afford confidence, ensure global investment. The industry, by surviving, protects the future benefits renewables promise the national economy. Interim quotas BRIDGE the gap between the present and the GRID PARITY era. There are still around 10 agorot that need shaving. If the industry survives, it itself will drive down costs and "MEET" Grid Parity by 2015. Without interim quotas, the industry will not survive.
Remove the Roadblocks The central roadblocks, if dismantled, save substantial costs to developers, move the Industry much closer to Grid Parity, and DO NOT COST THE NATIONAL ECONOMY MONEY.
Remove the Roadblocks Modify and streamline regulation (Quicker and less painful = less expensive). Cancel 20% Equity Investment Pledge (the industry has matured, needs financing flexibility.) Extend regulation of Accelerated Depreciation (expires 2013) Extend Finance Supporting Standards/Criteria Revise Bank of Israel Regulation that defines credit to solar as IEC linked (Single creditor limitations, that are not applicable, and simply drive up the cost of financing) Set worth of land at logical, consistent price.