Airengy Ltd., listed on the Tel Aviv Stock Exchange, has signed a memorandum of understanding to acquire a 51% stake in Green-Go, an Israeli PV developer and engineering, procurement, and construction (EPC) contractor with expertise in agrivoltaics.
Tel Aviv, Israel
Image: Shai Pal, Unsplash
Airengy is moving to enter Israel’s solar engineering and construction market with a planned majority stake in Green-Go. The deal comes as developers position themselves for new opportunities under Israel’s emerging agrivoltaics framework.
Ra’anana-based Airengy said the transaction would establish a third pillar of its operations alongside its compressed air power plant technology for multiday energy storage and its battery energy storage system activities in Europe. Green-Go has been active in the Israeli solar market since 2008, specializing in complex PV installations including agrivoltaics and atypical rooftop structures.
CEO Tal Raz said the deal is expected to accelerate Airengy’s activities in Israel, generate recurring cash flow, and add a growth engine to the company’s operations.
Airengy said Green-Go would serve as its EPC unit in Israel if the deal closes. Financial terms were not disclosed and the transaction remains subject to completion of definitive agreements.
The deal comes as Israel formalizes its agrivoltaics regulatory framework. Israel’s National Planning and Building Council and Ministry of Energy and Infrastructure have approved the country’s first comprehensive agrivoltaics outline plan, establishing a two-track permitting system and setting design and land-use standards including a maximum solar panel coverage of 30% of cultivated area. The framework is intended to give developers regulatory certainty while preserving agricultural land use.
Israel has been developing agrivoltaics policy since January 2022, when the Ministries of Agriculture and of Energy launched a 100 MW pilot tender offering a fixed tariff of ILS 0.2091 ($0.07)/kWh over 23 years. In 2024, Israeli startup Agri-Light Energy Systems launched its first pilot project above a vineyard in the Negev Desert, using a rail system to move solar panels horizontally above the crops.
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