Israeli storage developer switches to EPC for majority-owned solar – SPE

Airengy wants to enter the Israeli solar engineering and construction market with a planned majority stake in Green-Go. The deal comes as developers position themselves for new opportunities within Israel’s emerging agricultural framework.

Ra’anana-based Airengy said the transaction would create a third pillar of its business alongside its compressed air power plant technology for multi-day energy storage and its battery energy storage systems business in Europe. Green-Go has been active in the Israeli solar energy market since 2008 and specializes in complex PV installations, including agrivoltaic energy and atypical roof constructions.

CEO Tal Raz said the deal is expected to accelerate Airengy’s operations in Israel, generate recurring cash flow and add a growth engine to the company’s operations.

Airengy said Green-Go would serve as the EPC unit in Israel if the deal closes. Financial terms were not disclosed and the transaction remains subject to the completion of definitive agreements.

The deal comes as Israel formalizes its agricultural regulatory framework. Israel’s National Planning and Construction Council and the Ministry of Energy and Infrastructure have approved the country’s first comprehensive agricultural voltaics outline plan, which introduces a two-track permitting system and sets design and land use standards, including a maximum solar panel coverage of 30% of the built-up area. The framework is intended to provide developers with regulatory certainty while preserving agricultural land use.

Israel has been developing an agrivoltaic policy since January 2022, when the Ministries of Agriculture and Energy launched a 100 MW pilot tender with a fixed tariff of ILS 0.2091 ($0.07)/kWh over a period of 23 years. In 2024, Israeli startup Agri-Light Energy Systems launched its first pilot project above a vineyard in the Negev Desert, using a rail system to move solar panels horizontally above crops.

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