The Brand Group reports that it has won contracts for the construction of three photovoltaic (PV) facilities with a total financial volume of approximately NIS 28.5 million. “H.
The group’s energy arm, Brand Energy, is expected to complete work during the first quarter of 2022.
In addition, the company entered into three operating and maintenance agreements for each of the projects for two years. The company estimates that the consideration for the maintenance and operation services of the three projects is expected to amount to approximately NIS 1.5 million per year.
Yaron Silesh, CEO of the group, said: “We continue to promote the company’s work plan in all sectors and in the energy sector in particular, with an emphasis on increasing the backlog and rapid implementation. As part of the financial statements for the second quarter of 2021, we reported strong growth of 33% in the Group’s total revenues, which amounted to NIS 58 million in the quarter, with revenues of NIS 11 million in the quarter in the fast-growing energy sector. We are beginning to reap the benefits of the merger between Brand and Spy and anticipate that we will be able to identify additional opportunities in the field of EPC in Israel. “
The Brand Group is in fact a merger between Brand Industries and Spy Systems. The merged company, the Brand Group, is managed by the Group’s CEO Yaron Silesh, former CEO of Shikun VeBinui Renewable Energy, and CFO Alon Harpaz.
The company focuses on establishing infrastructure, systems, steel and energy projects in Israel. The group’s energy sector is led by Omar Giladi, Deputy CEO of Energy Operations, and former Director of Housing and Energy Construction in the United States.