ARKO Corp. and Apollo Power have entered into a non‑binding memorandum of understanding to install flexible solar arrays at more than 300 of ARKO’s U.S. convenience store and fuel station locations. The project, valued at roughly $53 million, will see Apollo Power provide turnkey engineering, procurement, and construction services—including design, installation, and grid connection—while ARKO supplies the sites and facilitates regulatory approvals.
The memorandum specifies that binding agreements will be finalized within 60 days of the signing, giving both parties a clear timeline for moving the project forward. Site selection criteria include roof or canopy space, existing energy consumption, and the potential for generating ancillary revenue from electricity sales. Apollo’s lightweight, flexible solar technology is particularly suited to the varied structures found at gas stations, allowing installations on surfaces that would not support traditional rigid panels.
This partnership aligns with ARKO’s broader transformation plan, which has focused on dealerization, operational efficiency, and sustainability. Prior initiatives have included efforts to reduce electricity costs and explore renewable energy options; the solar project adds a new revenue stream from power sales and further lowers operating electricity expenses, thereby improving margins at participating sites.
Apollo Power’s entry into the U.S. market marks a significant expansion for the company, which has previously deployed its flexible solar solutions in other regions. The technology’s adaptability to forecourt canopies and rooftops positions Apollo as a key partner for stations looking to monetize real estate and meet growing sustainability expectations.
Financially, the project is expected to generate revenue from the sale of generated electricity and reduce electricity costs for ARKO, contributing to improved profitability across its network. Market reaction to the announcement was positive: Apollo Power’s shares rose more than 8% on the Tel Aviv Stock Exchange, while ARKO’s stock increased 0.46% in pre‑market trading on the day of the announcement.
"Apollo Power’s technology gives us an opportunity to reduce electricity expenses at many of our locations and enhance the overall performance of our assets," said ARKO CEO Arie Kotler. "This collaboration is about making our properties stronger, more efficient, and better positioned for the future," he added. Apollo CEO Oded Rozenberg noted the partnership as a milestone, highlighting the company’s unique flexible solar technology and its potential to turn real estate into an additional income stream.
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