TeraLight, the energy subsidiary of financial group Menora Mivtachim (TASE: MMHD) has announced the sale of electricity to business customers from its Taanach 2 solar project in a deal worth between NIS 2.3 billion and NIS 2.5 billion, via a unit of Doral (TASE: DORL). Separately, Cellcom ((TASE: CEL) has announced that it will buy electricity from solar suppliers to the tune of NIS 1.1 billion. Given the difficulty of electricity suppliers in obtaining power at a discount that they can pass on to their consumers, these are two very significant developments.
TeraLight’s Taanach 2 installation is due to come on stream in the second half of 2026. The two Taanach projects are in the Taanachim block in the southern Jezreel Valley. Together, they will become the highest producing solar field in Israel, with an aggregate output of 257 megawatts, representing 3.5% of all energy produced from renewable resources in Israel today.
The Taanach 2 project will have an output of 107 megawatts, and will have a storage capacity of 440 megawatt-hours, which will enable it to supply power even when the sun is not shining.
TeraLight is also currently developing the Maglan project, in collaboration with thirteen settlements in the Jordan Valley. This solar field will have an output of 350 megawatts and a storage capacity of 1,300 megawatt-hours.
Four solar fields in the Western Galilee
The second deal is more relevant to the domestic consumer. Cellcom Energy has signed power supply agreements with four solar fields in the Western Galilee worth a total of NIS 1.1 billion. One is at Kibbutz Shomrat, and is due to come on stream during 2026. The others are with future projects to be built over reservoirs at other kibbutzim in the Western Galilee.
Cellcom says that, in the past two years, it has entered into power supply contracts with six solar fields with storage capacity, located in the periphery of the country and along the Gaza Strip border amounting to a total of NIS 850 million. These fields are already operational. The new deals will more than double Cellcom Energy’s power supply capacity.
Hundreds of thousands of households receive electricity at a discount from private suppliers such as Cellcom Energy, after switching from Israel Electric Corporation, but all the suppliers are currently losing money.
Published by Globes, Israel business news – en.globes.co.il – on September 7, 2025.
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