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Friday, July 14, 2006

Israeli Company To Build Solar Power Station In Korea

It is great to see an alternative to fossil fuels is being developed, and even better to see it coming from a nation often despised by half the world.

(Globes Online) Millennium Electric T.O.U Ltd., which specializes in the construction of photovoltaic-based solar power stations and the supply of solar paneling to private and commercial customers, has signed a contract with Korean entrepreneur Moon S. Kim, president of High Quality Marketing & Consulting (HQMC), a member of The Kore Group, Inc., for the construction of a power station at a cost of $150 million.

The new station is expected to have a 120 megawatt production capacity.

Millennium has already constructed a similar (yet smaller) power station in Korea, although this second one may indicate a demand for alternative energy in the region.

According to Globes Online, CEO Ami Elazari expects the company to generate tens of millions of dollars in revenue once the power station is operational.

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