Afcon Holdings Secures $24M Battery Storage Contract in Israel
Afcon Holdings has signed a $24 million contract for battery-based energy storage systems in Israel, targeting a 45 MW capacity. This project aims for completion in H2 2026, reinforcing Afcon's strategy to capitalize on the growing energy storage market.
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Afcon Holdings has finalized a $24 million contract to develop battery energy storage systems in Israel, targeting a total capacity of approximately 45 megawatts. The project will be executed by a subsidiary and is scheduled for completion in the second half of 2026, with installations planned across multiple sites, including maintenance and warranty services.
This contract represents a strategic move to enhance Afcon's presence in the energy storage sector, which is increasingly vital due to the rise in demand for renewable energy solutions. The company has also reduced its debt by repaying around 57 million shekels in Series D bonds, reflecting its financial stability. The growing global demand for energy storage solutions presents both opportunities and competitive risks in this evolving market.
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