Ashtrom Renewable Energy and Canlov Renewable Energy will ib solar projects

Ashtrom Renewable Energy from the Ashtrom Group and Canlov Renewable Energy have signed an investment agreement and a collaboration with an American entrepreneur who specializes in solar projects.
Under the agreement, the two sides will cooperate in the initiation and construction of solar projects in the U.S., and as part of the agreement, Ashtrom and Canlov will purchase four solar-powered 1.1 GW solar projects from the U.S. company. Of 900 megawatts, located in the state of Texas.The American company estimates that the first project, whose planned power is 400 megawatts, will reach a stage of readiness for construction and financial closure by the end of 2022 or by the end of the first quarter of 2023.
Rami Nussbaum, Chairman of the Board of Directors of the Ashtrom Group, noted that the signing of the agreements for joint investment in renewable energy in the United States is a first step for the group in this market. According to him, the American market enjoys rapid growth and regulation that supports the transition to renewable energies. This trend is also explicitly supported by the Biden administration's policy of reducing carbon emissions by 50% by 2030.

Ashtrom's entry into the US market is part of its global market involvement strategy. Ashtrom Renewable Energy, managed by Itzik Mermelstein, purchased in equal shares with the Harel Group 57% of wind farms that supply 257 megawatts for 41 million euros. Ashtrom plans to expand its operations in the United States and Poland and begin operations in additional markets.