Israeli solar developer Teralight has entered into a Memorandum of Understanding (MoU) for the sale of electricity generated by its 173MW Dunmore solar project, situated in Canada. The 15-year agreement has been forged with an undisclosed “Canadian energy infrastructure giant” and encompasses a substantial portion of the project's total electricity output.
This landmark agreement accounts for approximately 70% of the Dunmore solar project's electricity generation capacity, equating to an impressive 121MW of output. Teralight, in a strategic move, retains the remaining 30% of the electricity production volume for sale on the open market in Canada, a decision driven by the anticipation of higher returns in a dynamic energy pricing landscape.
The Dunmore solar project, poised to commence construction and expected to achieve commercial operation by the second quarter of 2025, is strategically located in Alberta, Canada.
Rani Lifshitz, CEO of Teralight, highlighted the significance of this milestone, stating, “Teralight continues to develop its activities in all sectors, and in this context, we are updating today on a significant memorandum of understanding for the sale of electricity from the Dunmore project that we own in Canada to an energy infrastructure giant.” This strategic move underscores Teralight's commitment to advancing renewable energy solutions and expanding its presence in the burgeoning Canadian energy market.
