The Industrial Council Ramat Hovav approved a new venture that would see Israel's biggest solar venture constructed in its limits, Ynet learned.
The Ramat Hovav Tenders Committee accepted an NIS 80 million (approx. $21.5 million) bid by Sol Project 7, a subsidiary of Solar Israel Ltd. The company will lease 120 acres for the purpose of building a photovoltaic power generation farm.
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The area in question has been deems unfit for agricultural or urban development, as it once housed the Ramat Hovav wastewater evaporation ponds.
The project is expected to generate 35 megawatts of electricity and once it is operational it will be included in the national power grid.
The facility's construction is expected to cost $100 million and its operational costs are estimated at $2.1 million a year.
The lease will be in effect for 22 years and Ramat Hovav stands to make about NIS 40 million ($10.75) off the venture.
"These are lands that no one ever thought could be used again, and all of a sudden it turns out they're worth millions," a Ramat Hovav councilmen told Ynet.
Ramat Hovav Council Head Andre Suzan said the project represented a "great environmental victory," adding that "what was once an environmental nuisance will become a source of clean energy."
Along Sage, CEO of Sol Project 7 added that the company was "proud to be a part of this project. It's an added bonus for the environment."