The second largest power network in the world (after China)
Power generation in the U.S. constituted approx. 32% of the total air pollution in 2019
The strategic target is zero air pollution from power generation by 2050
In 2018, the power market supplied power to 150 million customers, with a total consumption of approx. 3,859 TWH, 1,190 GW of production facilities, approx. 800 thousand km of transmission lines
The research body Vibrant Clean Energy recently released a report which analyzes how the U.S. can reach a target of 0% pollution from power generation by 2050
U.S. can reach a target of 0% pollution from power generation by 2050.
The report recommends widespread installation of home solar power systems as the most economical way to reach the target. The installation of approx. 247 GW of home solar power systems will enable the target to be achieved for $473 billion, together with alternative solutions
Solegreen’s U.S. operations
Agreement for investment in Kuubix renewable energy, a company which has been operating in the industry since 2016
The Company is currently operating in (1) the sale of home systems to the end customer, and (2) the development of PPA-based commercial systems for business customers. The Company is currently active in six U.S. states, with California as the main target
The Company has sales, licensing, planning, construction, connection and operations abilities for a large number of systems (home and commercial) in the countries in which it operates. The Company has a significant growth plan both for its volume of operations and for its geographic distribution
Solegreen is working (1) to accelerate operations in the home market and to examine other business models, beyond the sale of systems, and (2) to accelerate the development of the PPA-based commercial systems for business customers, where Solegreen will have the exclusive right to fully own such systems
Subject to the completion of the due diligence review, the parties will sign the binding agreement in the coming months. On the closing date, Solegreen will purchase approx. 21% of the share capital of Kuubix, along with providing convertible loans. Furthermore, and subject to meeting targets for 2021, the Company expects to make an additional purchase in 2022 of approx. 11% of the share capital and to provide another convertible loan. In 2022, and subject to meeting the targets which were defined with respect to the convertible loan, the Company is expected to hold approx. 55%.
8 Abba Even Blvd., Herzliya, Building B, 1st floor