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Italian company AB Cogeneration Energy is looking to build up to 250 cogeneration power plants in Israel over the next five years.

Europe’s largest manufacturer of cogeneration power stations up to 5 MW, has announced its entry into the Israeli market.

These power plants are being built mainly on factory premises. Instead of buying electricity from Israel Electric Corporation (IEC) (TASE: ELEC.B22), the enterprise can buy the electricity produced at the power plant, thereby saving the amount charged by IEC for conducting the electricity on its grid.
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The Italian firm believe a resurgence in the fortunes of gas power will help it build 150-250 cogeneration power stations on factory premises by 2020.

As of now, the company operates in 19 countries, and has built 890 power stations of up to 5 MW.

Every power plant ordered by an enterprise will be completely constructed in Italy, disassembled, and rebuilt on the enterprise’s premises within a few weeks. The company is building a warehouse in Israel for spare parts, and has begun training technicians.