Canadian Solar has tied up with Menora Mivtachim Holdings to float a joint venture company to make investment for developing, financing and constructing solar power projects in Israel.
Canadian Solar and Menora Mivtachim Holdings will be making a total investment of $60 million to finance the solar projects awarded by Israeli Electricity Authority under the solar power tenders and other solar projects to be developed under the partnership.
“This partnership will leverage Canadian Solar’s proven track record in developing and building solar power projects, with Menora Mivtachim’s financial strength and credibility to create an industry leader in the local market,” said Shawn Qu, chairman and chief executive officer of Canadian Solar.