Israel Electric Corp. has signed contracts to build a $1.3 billion 240 megawatt solar energy project in China.

The facility, to be situated in northern China, will consist of three photovoltaic solar energy arrays. Israel Electric Corp. will not invest equity in the project.

The solar array represents Israel Electric Corp.’s first foray into solar renewable energy and is awaiting the Israeli Government Companies Authority’s approval. The project is Israel Electric Corp.’s largest foreign undertaking.

The Israel Electric

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