Israeli Renewable Energy Firm Launches First US Solar Power Project

Israeli renewable energy company Arava Power says its first US solar power project SUNRAY has officially begun commercial operations in Texas. 

The project was developed in collaboration with top Israeli oil and gas retailer Paz Group, and funded in partnership with Israeli insurance company Menora Mivtachim, at a total cost of $330 million.

SUNRAY covers an area of some 1,200 acres and is being leased for a cumulative period of 50 years. The site contains more than 500,000 solar panels and is expected to produce 515 gigawatt-hours of electricity per year. 

This will prevent the emission of 225,000 metric tons of carbon dioxide and provide clean electricity to 43,000 homes in the San Antonio area every year. 

Arava and Paz began working on SUNRAY in 2021. The project completed its financial closing last year and received approval for commercial operations and finished construction last month.

“We succeeded in developing our first US project under extremely challenging market conditions,” said Arava Power CEO Ilan Zidkony. 

“Our company is proud of this achievement and are grateful for the confidence of top-tier partners and financiers. The commercial operation of SUNRAY is a key milestone in Arava Power’s US vision, with a portfolio of projects in various stages of development totaling 1.3 gigawatts across the US.”