Israel has cancelled 4.86GW worth of gas-fired power projects as the government firms up plans to develop substantial renewable power capacity. Falling costs for solar power in particular make the technology increasingly cost-competitive against gas-fired plants, but moving in this direction could pose a headache for firms developing Israel’s gas fields just as that sector appeared to be gaining momentum with last year’s start-up of the Leviathan field (MEES, 3 January).
The government is now targeting 16GW solar capacity by 2030, which would entail the construction of around 14GW over the next decade. Upon completion, renewables will then provide around 30% of Israel’s electricity generation, up from just 4.6% last year. (CONTINUED - 1071 WORDS)