Israeli solar technology firm Brenmiller Energy will install a 10-MW solar thermal power facility combined with storage in Dimona, southern Israel, for an investment of some ILS 300 million (USD 77.4m/EUR 68.3m).
A company spokesman told Reuters on Monday that the firm will be the one to finance the project.
Completion of the park, together with the underground facility to store heat for use when it is dark, is planned for early 2017.
Brenmiller Energy says the park will be able to generate power for 20 hours per day. During the remaining four hours, the company will use biomass.
Avi Brenmiller, a former executive at Siemens’ concentrated solar power (CSP) unit, founded Brenmiller Energy in 2012. The company has developed the bCell System technology, a modular solar steam generation system enabling the production of stable and continuous steam, unaffected by solar irradiation variations. It says its system can produce solar power for up to 7,000 hours per year.