Refac Energy Replaces Shamir in Talks for Tzachi Abu and Jackie Ben Zaken's Power Plant
Translated & summarized from Calcalist by baba
Refac Energy is negotiating to buy up to 70% of the Orot Yitzhak power station, valued at 1.5 billion shekels, replacing Shamir Energy in talks. The project, led by Tzachi Abu and Jackie Ben Zaken, has advanced planning stages. Refac Energy, managed by Itay Hagai and chaired by Ron Oren, is a major energy company seeking to expand its portfolio. Ari Real Estate, primarily a property developer, is involved in this sole power station venture.
The story in 6 lines · by baba
- Refac Energy is negotiating to acquire up to 70% of the Orot Yitzhak power station.
- The planned power station is valued at up to 1.5 billion shekels upon financial closure.
- Shamir Energy has ceased negotiations for a stake in the Orot Yitzhak project.
- Tzachi Abu and Jackie Ben Zaken are the key figures behind the Orot Yitzhak power station development.
- The National Infrastructure Committee has advanced the planning stages for the power station.
- Refac Energy is managed by Itay Hagai and chaired by Ron Oren.
Refac Energy is reportedly in negotiations to acquire up to 70% of the planned Orot Yitzhak power station, a project led by Tzachi Abu and Jackie Ben Zaken. The deal values the planned station at up to 1.5 billion shekels upon financial closure. Currently in the planning stages, the station's value is estimated between 600 to 700 million shekels. Shamir Energy had previously been in talks for a stake in the project but has since ceased negotiations.
Orot Yitzhak is being developed by Ari Real Estate, controlled by Tzachi Abu. The National Infrastructure Committee (TLV) recently advanced the project's planning, a significant step towards obtaining permits. Abu and Ben Zaken acquired the land for the station for approximately 350 million shekels. Ari Real Estate, in partnership with Ben Zaken, won a tender for the 73.6 dunam site in September 2025, securing the rights for the power station's planning, construction, operation, and maintenance.
The power station is projected to have a capacity of up to 1,700 megawatts. Refac Energy, controlled by the Oren family, is a significant player in Israel's energy sector, involved in various stages of energy projects. The company recently went public on the Tel Aviv Stock Exchange and has seen its stock value increase significantly. Refac Energy, managed by Itay Hagai, aims to expand its operations into related fields and international markets.
Refac Energy and Shamir Energy are already partners in other energy ventures, including the Alon Tavor power station and a solar project in the Negev. Refac is also in the process of increasing its stake in Alon Tavor and has been involved in other complex energy asset swaps and acquisitions. Ari Real Estate's primary focus is on land acquisition and development of commercial centers, with Orot Yitzhak being its sole power station project.
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