Sources inform ''Globes'' that Arison Holdings Ltd. subsidiary Housing and Construction Holding Co. Ltd. (Shikun u'Binui) (TASE: HUCN) is considering entering the alternative energy industry. Energy market sources say that the company is considering investments in several solar energy companies.
The company is reportedly planning to participate in the government tender for the construction of a $300 million 100-500 megawatt solar power station in the Negev. The tender is due to be published later this year.
In the past two years, Housing and Construction, under CEO Uri Shani, has expanded its energy and infrastructure business, as part of its new strategy. Entering the alternative energy industry fits in with Shari Arison’s vision of increasing investment in clean energy, water, and environmental fields. Sources close to the company predict that if it enters the alternative energy industry, it will do so through subsidiary Blue Green Ltd.
The alternative energy industry has expanded rapidly in the past three in parallel with the surge in oil prices and the need to diversify energy sources. Ormat Industries Ltd. (TASE: ORMT) is a leading international alternative energy company and other leading Israeli companies have announced plans to enter the field, including Electra Ltd. (TASE: ELTR) and Israel Corp. (TASE: ILCO).
Published by Globes [online], Israel business news - www.globes.co.il - on August 6, 2007
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