A consortium led by Israel’s Edeltech and Menora Mivtachim has reached financial close on the IS5.6bn ($1.8bn) Sorek gas-fired power project, including approximately IS4.8bn ($1.5bn) of debt financing. The 850MW plant is scheduled to start operating in late 2029.
Mizrahi Tefahot Bank and Discount Bank led the financing, with infrastructure fund Keystone also involved in the development. The consortium won the December 2024 tender to build the plant near the Sorek desalination facilities south of Tel Aviv. (CONTINUED - 163 WORDS)