Alstom Moves Into Israel Hydro Market With Pumped-Storage Order

Jan 09, 2014 1:57 pm ET

Jan. 9 (Bloomberg) -- Alstom SA, a French power-equipment maker, won 120 million euros ($163 million) of contracts to build and operate Israel’s first hydroelectric pumped-storage plant near the Sea of Galilee.

The Gilboa facility 60 kilometers (37 miles) east of Haifa would use energy from other power stations to transfer water to a reservoir to be reused later to generate electricity. When commissioned in 2018, the plant will boost Israel’s installed power capacity by 2.5 percent, Alstom said today in a statement.