The Israeli state-owned energy company Israel Electric Corporation (IEC) will sell its 1,693 MW Eshkol gas-fired power plant to a private buyer for around ILS9bn (US$2.3bn). The Eshkol power plant, the largest gas-fired plant in Israel, is the fourth power plant to be sold in a drive to privatise most of Israel's electricity production. IEC, which once had a monopoly in the country’s electricity generation, will now control about 40% of the sector.
IEC has already announced the winning bidder for the purchase of the plant, which will be Eshkol Power Energies, a joint venture between Israeli partners Dalia Power Energies and Taavura. Eshkol Power Energies had won an initial tender to purchase the plant for ILS12bn. However, the group was unable to secure finances, so IEC was forced to repeat the tender, with Eshkol Power Energies as the only bidder.
In 2022, gas-fired power represented 45% of Israel’s installed capacity with 9 GW and 69% of its power generation with nearly 52 TWh.
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