A publicly traded Israeli company active in the development, financing, operation and management of solar energy projects.
The company has several solar field projects in different stages of development in the occupied West Bank
In July 2023, Teralight was one of five companies that were awarded a tender issued by 19 settlements in the West Bank for the construction of photovoltaic (PV) solar systems to generate electricity on the roofs of local council buildings and on top of the roofing of public areas in the settlements. The tender, supported by the Israeli Ministry of Energy, included a proposed potential area for the construction of solar systems on more than 1,541 dunams and a planned capacity of 173.6 MW, with a potential revenue of NIS 120 million a year. The settlements issued the tender include Ma'ale Adumim, Modi'in Illit, Bitar Illit, Elkana, Beit El, Karnei Shomron, Kdumim, Givat Ze'ev, Sha’ar Shomron, Oranit, Emanuel, Alfei Menashe, Emanuel, Har Adar, and the settlements of the Jordan Valley Regional Council, the Megilot Regional Council, Mateh Binyamin Regional Council, Shomron Regional Council and Mount Hebron Regional Council.
Jordan Valley Solar Field
Through its fully-owned subsidiary, Menorah Mivtachim Energy Jordan Valley Solar Project Ltd, the company is the financier, developer and operator of a planned 340MW solar energy project in the Jordan Valley in the occupied West Bank, expected to start its commercial operation in 2026. The solar field will take up a total of 3,250 dunams of occupied land and is expected to be the largest solar energy project on both sides of the Green Line.
For the purpose of the project, the company entered into an agreement with 13 settlements for the right to use the land for a period not exceeding 24 years and 11 months in exchange for a fixed annual usage fee. The company holds the option to carry out the project through a joint corporation with the settlements, in which Teralight will hold 74% and the settlements would hold the remaining 26%.
Naama Solar Field
In March 2020, Menorah Mivtahim C.S Solar Investments 1 Ltd, a fully owned subsidiary of Teralight, was awarded a tender from the Israeli Civil Administration to establish a 9.97 MW capacity solar PV facility in the West Bank which will be connected to high and low voltages distribution network, at a fixed tariff for a period of 23 years from the date of commercial operation of the project. The company established a joint corporation with the settlement of Naama in the Jordan Valley in which they hold 74% and 26% stakes, respectively. The project, at a cost of NIS 36 million, is currently under construction.
In 2022, Menorah Mivtahim Energy was selected to participate in a pilot program launched by the Ministry of Energy and the Ministry of Agriculture & Rural Development to examine the feasibility of the dual use of agricultural land for electricity generation from solar energy. As part of the project, the company will collaborate with Ariel University to construct an agro-voltaic facility in a vineyard in the settlement of Beka’ot in the Jordan Valley.
