The Israeli state-owned power utility Israel Electric Corp (IEC) has sold its 1,693 MW Eshkol gas-fired power plant to a private buyer for approximately NIS12bn (US$3.3bn), 43% higher than the next highest bid. The winning bidder for the power station is Eshkol Power Energies, a joint venture between local companies Dalia Power Energies and Taavura.
This sale is part of a larger privatisation effort aimed at transferring most of Israel's electricity production to the private sector. This marks a significant milestone as it breaks the longstanding monopoly held by IEC, which has traditionally managed all aspects of electricity production and distribution in Israel. The government made the decision in 2018 to introduce competition into the sector by selling off five power plants.
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