Israel’s Solegreen buys energy storage systems from Tadiran for $130 million

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Israeli renewable energy company sole greenco-signed a $130 million master agreement Tadiran group Purchase energy storage systems totaling 600 megawatt hours from Tadiran’s subsidiary Aviem for its solar energy installation projects. globes reported.

Aviem has around 50 years of experience in the development of electrical energy systems such as uninterruptible power supply systems, power supplies and chargers, batteries, frequency converters and charging systems for residential electric vehicles. The company was acquired by Tadiran Group in October 2021 for NIS 30 million (US$8.9 million).

Aviem will design the energy systems according to Solegreen’s specifications and will include an integrated solution based on storage systems manufactured by a German solar energy storage company SMA.

Aviem is responsible for the performance, availability, repairs and storage capacity according to the agreed values ​​in the framework agreement. The Master Agreement also serves as an agreement to provide warranty, preventative maintenance and upgrade services for Aviem-designed systems for a base period of five years.

Founded in 2000, Solegreen specializes in the development, design, construction, financing and management of renewable energy power generation plants and operates solar projects in Israel, Italy, Germany, Greece and the Tel Aviv Stock Exchange. Solegreen initiated its solar projects after winning an Israel Electric Authority competition for its project combining photovoltaic power generation with energy storage capacity.

“We are reporting today on a framework agreement to implement the purchase of a significant volume of storage systems,” Solegreen CEO Tom Shafran told Globes. “This agreement is expected to provide a solution for the Company’s overall storage needs for projects that Solegreen will build in Israel over the next two years. After a long and careful tendering process conducted by Solegreen and focused on a comprehensive energy solution package, the company chose the solution proposed by Tadiran, which was preferable to the other proposals on all levels.”

“The deal with Solegreen demonstrates that the acquisition of Aviem has been very successful for the group in a period of less than a year since the transaction was signed,” added Moshe Mamrud, CEO and majority shareholder of Tadiran. “We are proud to work with a strategic partner like Solegreen in a market with great potential like the storage market. The goal of Tadiran was and is to create a complete solution for everyone who needs energy storage. In the coming year we will continue to work on finding business and cooperation opportunities in the energy market.”

“This is the largest deal ever in the energy storage market in Israel,” said Ran Abudi, CEO of Aviem. “A few months ago, we set a goal to become the leading and most significant player in the energy storage market in Israel, and in fact, the first goal has been achieved in a relatively short period of time. Solegreen was impressed by Aviam/Tensor’s capabilities and their knowledge and experience of more than 50 years combined with engineering and implementation capabilities at the highest technological level.”

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