Doral, Ampa Project $150 Million Annual Revenue From Har Toov Data Center
Renewable energy firm Doral and real estate company Ampa anticipate annual revenues of $150 million from the data center they are developing in Har Toov, near Beit Shemesh. This projection is based on a presentation Doral released to investors and an announcement Ampa made to the stock exchange.
Nadav Layla, a real estate entrepreneur described as a rising star in the data center field, is also a partner in the Har Toov project, offering attractive land prices. Upon full connection in 2030, the project is expected to generate approximately $100 million in EBITDA and $80 million in annual cash flow.
Doral highlighted that this data center will be exempt from the recent Israel Electricity Authority freeze on new data center connection requests. The authority imposed the freeze in July due to an overwhelming number of applications exceeding the national electricity grid's capacity. The freeze is expected to last until December, when new connection terms, including local electricity generation and development plans, will be established.
Data centers that secured a connection survey before the freeze are now considered highly valuable assets. The Har Toov facility will initially connect 32 megawatts, with an additional 64 megawatts to follow, totaling 96 megawatts and enabling approximately 75 MWIT (Megawatts Information Technology) operation. While not directly adjacent to a Doral production facility, a private electricity supplier will virtually provide the necessary power.
This Har Toov project is the most advanced of ten similar projects Doral and Ampa are advancing. Larger projects are planned in other locations, including 166 MWIT in the Jordan Valley, 150 in the Western Negev, 150 in the northern Gaza envelope, and 100 in the southern Arava. These projects are in earlier planning stages and are affected by the Electricity Authority's freeze. Doral believes its high-voltage electricity generation projects offer a competitive advantage, envisioning integrated "energy parks" combining data centers and power generation, though this remains a future vision dependent on regulatory decisions expected in December.
