Ashtrom Group LTD, one of Israel's leading construction and property companies, and Kenlov Renewable Energy, an international originator, investor and independent power producer announced the signing of a definitive agreement to acquire four solar projects in the United States with planned capacity of approximately 1.1 gigawatts direct current from Texas-based developer OnPeak Power, and an exclusive development services agreement to target an additional development pipeline of utility-scale projects across the United States.
Three of the first acquired projects with planned capacity of approximately 900 megawatts direct current are located in Texas, while the fourth project is located in Idaho. The projects are at various development phases, with the first project planned to reach FNTP late next year.
The acquisition marks the commencement of a newly formed joint venture company, KARE LLC, between Ashtrom, through its wholly owned subsidiary Ashtrom Renewable Energy,
