The new headquarters of the Israel Solar Energy Company will be in North Glilot. Azrieli Group Ltd. (TASE: AZRG) and SolarEdge Technologies (Nasdaq: SEDG) have announced the signing of an agreement under which Azrieli will build the new campus of the Israel Solar Energy Company on a 6.5-acre site in Glilot North, with investment from NIS. 860 million. The site, in Ramat Hasharon, north of Tel Aviv, is on the eastern side of the coastal highway (Route 2). Related materials SolarEdge has signed revenue and margins, and EPS SolarEdge, which provides power optimizers, solar inverters and monitoring systems for PV arrays, has bypassed a 15-year lease with Azrieli, with the option to extend the lease up to 24 years and 11 months. The agreement will produce NOI annually in the amount of NIS 62 million for Azrieli, which is expected to take over the project in 2025. The project is being planned jointly with SolarEdge. The SolarEdge campus will cover 4,125 acres of site with 38,000 square meters of building and 950 parking spaces. On the remaining 2,375 acres of the Glilot site, Azrieli will develop more office and commercial space. The aircraft was designed by Azrieli and Skorka Architects. SolarEdge’s share price fell 5.32% in pre-market trading on the Nasdaq at $ 202, giving a market value of $ 11.089 billion. Posted by Globes, Israel business news – en.globes.co.il – May 11, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
0 Comments