Ketura Sun is Israel's first commercial solar field. Built in early 2011 by the Arava Power Company on Kibbutz Ketura, Ketura Sun covers twenty acres and is expected to produce green energy amounting to 4.95 megawatts (MW). The field consists of 18,500 photovoltaic panels made by Suntech, which will produce about 9 gigawatt-hours (GWh) of electricity per year. In the next twenty years, the field will spare the production of some 125,000 metric tons of carbon dioxide. The field was inaugurated on 15 June 2011. On 22 May 2012 Arava Power Company announced that it had reached financial close on an additional 58.5 MW for 8 projects to be built in the Arava and the Negev valued at 780 million NIS or approximately $204 million.