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Article: Israel : US energy co AES seeks to join Israeli biofuel venture.
- Article from:
- TendersInfo
- Article date:
- August 21, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
AES Corporation (NYSE: AES) is pursuing contacts for expanding its activity in Israel. Sources inform Globes that the company is in negotiations to invest in Israeli alternative energy company GNRY Ltd. Industry sources estimate the deal at NIS 25-27 million.
GNRY produces electricity from steam generated by burners, which use wood chips as fuel. The company set up its first facility in Israel at the Galam factory at Kibbutz Maanit at an estimated investment of $7 million. Dan Schneid is the CEO of the company.
The facility generates electricity for more than 25% less than other energy sources available on ...