ALSTOM SA: Alstom obtains in Israel, with BrightSource and Noy Infrastructure
& Energy Fund, the financing for its first solar power plant
8 July 2014
A contract worth approximately €450 million
Alstom obtains in Israel, with BrightSource and Noy Infrastructure & Energy
Fund, the financing for its first solar power plant
Megalim Solar Power Ltd (Megalim) - a special purpose company formed by Alstom
(25.05%), BrightSource (25.05%), and NOY Infrastructure & Energy Investment
Fund (49,9%) - obtained the financing of the European Investment Bank and the
Bank Hapoalim for the construction and operation of the Ashalim Thermal Solar
Power Station in Israel. This key milestone follows the signature of a Power
Purchase Agreement between Megalim and the State of Israel in November 2013.
It will allow to start the construction works of Ashalim - which will employ
about 1,000 people during this phase - and is scheduled to be completed in
early 2017. Alstom's share in the contract is worth approximately 450 million
For this project, Alstom will be responsible for the engineering, the
procurement and the construction (EPC) of the solar power station and will
also provide full operations and maintenance (O&M) activities for a period of
25 years. BrightSource will bring heliostats and optical concentrating devices
for Ashalim. The project will thus combine Alstom's experience in the field of
turnkey power plants and key power equipment, such as steam turbines and solar
receiver steam generators, with BrightSource's advanced solar field
"The project is a further step in our partnership with BrightSource and our
first success together in the solar thermal power market. It paves the way to
provide cost-efficient and reliable carbon-free power to our customers " said
Jérôme Pécresse, Alstom Renewable Power President. "This project reinforces
solar thermal power's position in Alstom's strategy, as the desert and the sun
can support sustainable growth ".
"The use of BrightSource's proprietary technology at Ashalim reflects the
growing interest in international markets for power that is clean, cost
competitive and reliable, and the continual evolution of BrightSource
technology strategy ", explained David Ramm, BrightSource Chairman and CEO.
"As a global supplier of solar tower technology solutions, BrightSource is
positioned to tap into growing renewable energy demand from governments and
utilities around the world. This is the first in what we expect will be a
number of strategic partnerships with Alstom to leverage the expertise of both
Ashalim will make use of BrightSource's concentrating solar power (CSP) tower
technology similar to that used at the Ivanpah project in Southern California.
More than 50,000 computer-controlled heliostats or mirrors will track the sun
in two axes and reflect sunlight to a boiler on a 240-meter tower. When the
concentrated sunlight strikes the boiler, it heats water in the boiler to
create superheated steam. This high-temperature steam is then piped from the
boiler to a steam turbine-generator to produce electricity.
Located on a 3.15 square km (1.22 square miles) in the Negev desert, the
Ashalim 121 MW solar plant will generate enough power to meet the electricity
needs of more than 120,000 homes.
"It is an honor to take part in the Megalim project and further support the
development of the South of Israel region as well as the growth of the
renewable energy sector here", explained Ran Shelach and Gil-ad Boshwitz, NOY
Fund's managing partners. "This investment has a strategic importance within
the Fund's Energy portfolio which thinks highly of its partners' capabilities
and considers them potential strategic partners for future investments in
Israel and abroad."
BrightSource Energy, Inc. provides the world's premier solar field technology
for concentrating solar power systems to deliver reliable clean energy to
utilities and industrial companies. For more information on BrightSource
Energy please visit www.BrightSourceEnergy.com.
Alstom is a global leader in the world of power generation, power transmission
and rail infrastructure and sets the benchmark for innovative and
environmentally friendly technologies. Alstom builds the fastest train and the
highest capacity automated metro in the world, provides turnkey integrated
power plant solutions and associated services for a wide variety of energy
sources, including hydro, nuclear, gas, coal and wind, and it offers a wide
range of solutions for power transmission, with a focus on smart grids. The
Group employs 93,000 people in around 100 countries. It had sales of over €20
billion and booked €21.5 billion in orders in 2013/14.
About Noy Infrastructure and Energy Fund
NOY Fund was established in 2011 and is engaged in investment in companies and
projects in Israel and abroad in the fields of infrastructure and energy. Noy
Fund focuses on generating sustainable cash flow and long term capital gains
from investments in infrastructure and energy projects in Israel and abroad.
The Fund's existing portfolio includes motorways, renewable energy,
transportation and other large scale BOT projects. The fund's capital
investors include the majority of Israel's leading financial institutions.
Virginie Hourdin / Claire Biau - Tél. +33 1 41 49 21 36 / 39 95
Stephanie Grange (Alstom Renewable Power) Stephanie.email@example.com /
Tel: +33 (0)1 41497862
Daniela Pradella (Alstom Italy) - firstname.lastname@example.org/ +39
Delphine Brault, Anouch Mkhitarian - Tel. +33 1 41 49 26 42/25 13
 The contract will be booked in Q2 of current fiscal year
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: ALSTOM SA via Globenewswire
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