Israeli Energy Project Sale Could Net Business Partners Over $200 Million
Translated & summarized from Ice by baba
Israeli businessmen Tzachi Abu and Jackie Ben Zaken are selling over half of their stake in the planned Orot Yitzhak power station project to Rapac Energy for NIS 550-730 million. The deal values the project at NIS 1.1-1.46 billion, potentially yielding hundreds of millions in profit for Abu's Ari Real Estate company. The project, which acquired its land for NIS 362 million last year, is progressing through planning stages and could eventually host a 1,700-megawatt power station.
The story in 5 lines · by baba
- Tzachi Abu and Jackie Ben Zaken are selling 50.1% of their power project for NIS 550-730 million.
- The deal values the unbuilt Orot Yitzhak power station at NIS 1.1-1.46 billion.
- Ari Real Estate could see profits of around NIS 330 million from the transaction.
- The project's land was acquired for NIS 362 million in September 2025.
- The planned power station could have a capacity of up to 1,700 megawatts.
Businessmen Tzachi Abu and Jackie Ben Zaken are reportedly set to sell a significant portion of their stake in the planned Orot Yitzhak power station project, located in the Menashe Regional Council. According to TheMarker, Abu's company Ari Real Estate and a private company owned by Ben Zaken have agreed to sell 50.1% of their equity rights in the project to Rapac Energy for NIS 550-730 million (approximately $150-200 million), depending on the project's final scope and progress.
The deal values the planned power station at NIS 1.1-1.46 billion ($300-400 million), even though it has not yet been built. This transaction allows Abu and Ben Zaken to realize substantial value while retaining potential future benefits from the project. Currently, Ari Real Estate holds 60% of the rights, and Ben Zaken's company holds 40%. Upon completion, Rapac Energy will own 50.1%, Ari Real Estate's share will decrease to about 30%, and Ben Zaken's to about 20%.
If the deal closes at the lower valuation of NIS 1.1 billion, Ari Real Estate is expected to record a profit of approximately NIS 330 million ($90 million). A higher final price could increase this profit by another NIS 100 million ($27 million). The project's land, spanning about 73.6 dunams (18 acres), was acquired in a tender by the Israel Land Authority for about NIS 362 million ($98 million) in September 2025.
Progress has been made in the project's planning stages, with the National Infrastructure Committee issuing a notice for the preparation of the power station's plan (Plan No. T.L. 229) and setting planning conditions. This step increases planning certainty but is not final approval for construction. The current valuation reflects rights in a planned power generation project, not just the land itself.
Initially, Ari Real Estate estimated the site could accommodate a power station with a capacity of 850-1,700 megawatts. In February 2026, the Ministry of Energy and Infrastructure recommended expanding the planning area by about 30 dunams, potentially allowing for a 1,700-megawatt facility, pending necessary approvals. The deal with Rapac Energy follows earlier discussions with other industry players, including Shamir Energy, to bring in a partner.
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