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Israel's Paz Oil plans 700 MW power plant at USD 700 million cost

Power News - Published on Mon, 11 Feb 2019

Image Source: ET EnergyWorld
Reuters reported that Israel's Paz Oil Co board has authorised management to move forward with a plan to build a third power plant to supply 700 megawatts of electricity for the national grid. Such a plant, to be built in the port of Ashdod, would cost up to USD 700 million, which would be financed with Paz's capital and through a debt offering. Powered by natural gas, the plant could be built either by Paz alone or with partners and would go online in 2023.

The plan is subject to completion of all the necessary financial and technological reviews and receipt of approval

The board also authorised management to examine the possibility of participating in a tender for five power plants to be sold off by state utility Israel Electric Corp in the coming eight years.

Source :

Posted By : Rabi Wangkhem on Mon, 11 Feb 2019
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