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Arava Power signs solar deal with Negev Bedouins

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Friday, June 25th, 2010

As reported in IVC: The US Overseas Private Investment Corporation will finance 80% of the cost of the solar fields, or $300 million.

Arava Power Company has signed contracts to build three solar power fields on land owned by the Tarabeen and Abu Karinath Bedouin clans in the Negev. The company estimates that NIS 400 million will be needed to finance the construction of the solar fields, which will produce 20 megawatts of electricity on 370 dunam (92.5 acres) of land altogether.
Arava Power said that the US Overseas Private Investment Corporation (OPIC) will finance 80% of the cost of the solar fields, or $300 million.