Project Sde Yoav -
Lahav L.R and Kibbutz Sde Yoav have a limited partnership - Sde Yoav (S.Y.N) - which was established in order to install medium solar systems in the kibbutz with a capacity of 600 kW.
The rights of Nova Solar in the aforementioned partnership (owner of the rights to the facility) are about 70% (as of 5/1/2014).
There is an approved city building plan for the construction of the device and a building permit to construct them, as well as a conditional license from the IEC (the fixed rate license is subject to a financial close).
The estimated operation time/schedule is mostly dependent upon the approval of fixed tariff (which, as previously state, depends on a financial closing), and Lahav L.R do not know when the quotas will be opened by the state and IEC which will allow the advancement of the project.
Project Kibbutz Sofa -
Lahav L.R owns Nova Solar Ltd., which holds about 100% of Nova Sofa Ltd., the owner of rights to build a medium solar system in Kibbutz Sofa with a capacity of 6 MW. Let it be noted that as of the date of this document, negotiations are being conducted with the kibbutz under which the rights of Nova Solar Ltd. will decrease to about 77.5%.
There is an approved city building plan but no building permit yet. A conditional license has yet to be received from IEC. Upon receipt of the conditional license, if granted, there will be a need to perform an appraisal by the Israeli Lands Administration in order to obtain a building permit.
The Company is conducting negotiations with additional entities, and has signed initial agreements with a number of them in order to initiate the establishment of additional projects.
Additional information about the property can be found in the shelf prospectus of Lahav L.R on the Company website and the Securities Authority website. Updates can be found in ongoing reports to the stock exchange on the Company's website and the website of the Securities Authority.