Energy is power
In March 2022, Edeltech was awarded a tender together with Shikun & Binui for the purchase of the Hagit (East) power plant from the Israel Electric Corporation in the amount of NIS 1.6 billion. The tender was part of an Israeli Government’s reform to privatize 5 power plants, originally operated by IEC.
Keystone, in partnership with Menora Mivtachim, provided financing for Edeltech, partly with the option of future conversion to a 16 % holding in the plant (indirectly).
Hagit power plant is located in northern Israel, and can generate 660 MW of power. Its existing infrastructure is an intersection of electricity, gas and diesel, enables easy and convenient transportation to and from it.
16.3% (based on an anticipated loan conversion)
Area of activity
Scope of investment
110 million NIS
Menora Mivtachim, Edeltech, Shikun & Binui