Israel Electric sells Eshkol power station in privatisation drive

• 2 years ago (2023-06-16)
• David Flin

Gas 423 Middle East 344

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State-owned Israel Electric Corp (IEC) has announced that it has sold its Eshkol power station for $3.3 billion to Eshkol Power Energies, a joint venture between Dalia Power Energies and Taavura .

The 1693 MW natural gas-fired power plant is the fourth to be sold in the drive to privatise Israel’s electricity production. Israel’s Government decided in 2018 to break up IEC’s monopoly and force the sale of five power stations, opening the sector to competition.

Meir Spiegler, Chief Executive at IEC, said: “For the first time, Israel Electric will cease to be a monopoly in electricity production, with its market share being reduced to about 40 per cent.”