Israel Looks for Firms to Build its Largest Solar Power Facility

Israel is planning a tender for building its largest ever solar power facility, which will have a capacity of up to 500 megawatts, in the southern Negev desert.

The photovoltaic (PV) field will be “unprecedented” in size for Israel, covering about 6 square kilometers (2.3 square miles) of land near the town of Dimona, the Finance Ministry said in a statement on Monday.

The project will be handled as a Public Private Partnership, the ministry said, in which a company that wins the tender will fund, build and operate the facility for a pre-determined period, after which it will be handed over to the state at no cost.

The statement did not specify whether the facility will be comprised of a single power station or a number of smaller ones.

The government will publish in the coming months an announcement regarding the pre-qualification round.

The Finance Ministry also said 10 groups have been approved to take part in a tender to build and operate a second, smaller 40 megawatt PV station nearby, in the desert town of Ashalim. That field is expected to come online by the end of 2018.

Both projects are part of an Israeli push to have 10 percent of its energy production come from renewable sources by 2020.

Originally published by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialised units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

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Kuwait Reject IMF Proposals to Introduce Tax on Public Services – Investment Advice by CWIIL Group

Kuwait’s National Assembly has rejected proposals by the International Monetary Fund (IMF) to impose taxes and life subsidies on public services.

The IMF put forward the plans in order to reduce the state budget deficit, but the assembly’s financial and economic affairs committee refused to accept them, citing its opposition to measures which would come at the expense of Kuwaiti citizens.

Kuwait’s revenues have dropped since June 2014 due to a slump in oil prices, with the value of crude falling almost 60 percent. Oil income contributes to about 94 percent of public revenues in Kuwait.

The IMF’s proposals were based on the projection that oil prices are not likely to rebound, and speaking to local media, MP Mohammad Al Jabri said: “We have to be transparent with the Kuwaiti people that the Kuwaiti economy is facing real problems.”

However, he added that the committee insisted any treatment of the economic situation must not negatively impact Kuwaiti citizens, and called for alternative solutions.

He suggested that measures could include effective implementation of zakat (Islamic taxation), the activation of the Build-Operate-Transfer law, and health insurance schemes.

Kuwait is projecting a budget deficit of KD7 billion ($23.2 billion) in the current fiscal year – the first shortfall after 16 years of surpluses that have helped Kuwait accumulate foreign reserves worth $592 billion.

Government measures to have already address the economic situation include the lifting of subsidies on diesel, kerosene and aviation fuel. It is considering lifting or reducing subsidies on electricity and petrol.

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all matters relating to investment ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.