Israeli solar developer Teralight has signed a memorandum of understanding (MoU) for the sale of electricity from its 173MW Dunmore solar project in Canada.
The 15-year agreement with an unnamed “Canadian energy infrastructure giant” covers 70% of the project’s total electricity, equating to 121MW of output.
Teralight reserves the remaining 30% of the volume of electricity production for sale on the free market in Canada, where the price levels are expected to yield a higher return.
Dunmore, which is nearing construction and expected to be commercially operational during the second quarter of 2025, is located in Alberta.
According to Rani Lifshitz, CEO of Teralight, said: “Teralight continues to develop its activities in all sectors, and in this context, we are updating today on a significant memorandum of understanding for the sale of electricity from the Dunmore project that we own in Canada to an energy infrastructure giant.”