China Harbour Engineering consortium is preferred bidder for Israeli power station

Consortium bids US$526 million for Alon Tavor gas-fired power plant, which will be the first sold by Israel Electric Corporation to the private sector

State-owned Israel Electric Corporation (IEC) has named a consortium including China Harbour Engineering Company as the preferred bidder for the Alon Tavor gas-fired power plant.

As part of the ongoing reform in the Israeli electricity sector, IEC undertook to sell five power stations, according to a fixed timetable, while implementing a gradual reduction in the generation segment to 40% of total generation capacity in Israel.

On 2 July, the tenders committee, headed by IEC's CEO Ofer Bloch, announced that at the end of a nine-month process, MRC Alon Tavor Power Ltd group was the winner of the tender process. The consortium members are Rapac Energy Ltd, China Harbour Engineering Company Ltd and Mivtach Shamir Holdings Ltd. They bid 1.872 billion Israeli New Shekels (US$526 million). 

The 370MW Alon Tavor gas-fired power plant is located in northern Israel. It is the first power plant sold by the IEC to the private sector. Local energy companies alongside international companies, as well as, leading business and financial entities took part in the tender.

The Tenders Committee declared a second eligible bidder as a backup, in accordance with the tender documents. The plan is to deliver possession of the site by December 3.

Israel Electric Corporation is 99.846% owned by the State of Israel. IEC activities include the generation, transmission and transformation, distribution, supply and sale of electricity. It owns and operates 17 power stations with 61 generating units- 16 steam driven, 31 gas turbines and 14 combined-cycle units. IEC’s installed capacity is 13,335 MW.

-------------------------------------------------------

Social Media Links (This section can be seen in office only):
Twitter : https://www.theasset.com/article-single.php?id=38163&social=twitter
Linkedin : https://www.theasset.com/article-single.php?id=38163&social=linkedin
Facebook : https://www.theasset.com/article-single.php?id=38163&social=facebook