Tralight, a prominent player in the field, has taken a significant step forward in its Canadian operations. The company has officially confirmed the signing of a memorandum of understanding (MOU), subject to a binding agreement, for the sale of electricity worth approximately NIS 800 million. This remarkable deal revolves around the Dunmore solar project, an enterprise owned by Tralight with a 75% stake, and spans a lengthy 15-year period.
Under the terms of the agreement, Tralight expects to amass an estimated NIS 800 million in total electricity sales throughout the duration of the Power Purchase Agreement (PPA). This PPA pertains to 70% of the Dunmore project's total electricity production. Notably, Tralight will retain the remaining 30% of electricity volume for sale in the Canadian open market, where price levels are anticipated to yield a higher return on investment.
The Dunmore solar project, which is rapidly progressing towards construction, is slated to achieve commercial operation status in the second quarter of 2025. Situated in the picturesque province of Alberta, Canada, the project is designed to operate at a robust capacity of approximately 172.8 megawatts (AC). According to the MOU, the project company will supply approximately 70% of its total electricity production, equivalent to approximately 120.98 MW AC, to a Canadian energy infrastructure giant.
This monumental announcement comes on the heels of another groundbreaking deal unveiled earlier this month by Tralight. The company disclosed its plans for a substantial electricity sale agreement with Dalia Energy, a prominent electricity supplier. This deal is estimated to be valued at a cumulative amount ranging from NIS 2.2 billion to NIS 2.3 billion, spanning an impressive 23-year term. As part of this agreement, Tralight will provide all the electricity generated by the Ta'anak 2 project, which is expected to commence commercial operations in the first half of 2025.
Tralight's continued success in securing these substantial contracts highlights its commitment to advancing renewable energy solutions and signifies a pivotal step toward a greener and more sustainable future.