As its first venture in this high-growth market, ICG has formed IC Green Projects Ltd., and through it has reached an advanced stage in the construction of 2MW PV project - approximately 40 small PV systems (50KW each) - in Israel’s Arava desert. IC Green Projects intends to establish and operate additional mid-sized and large PV facilities to generate electricity at established rates in Israel. It is also evaluating the possibility of establishing PV facilities in other countries.