Sonol-Afcon-Pentech Partnership Plans Haifa Bay Power Plant
Translated & summarized from TheMarker by baba
Afcon, Sonol, and Pentech Energy are partnering to build a 900-megawatt power plant in Haifa Bay, along with a server farm and energy storage facility, at an estimated cost of 4 billion shekels. The project faces opposition due to its location, which conflicts with government policy, and the planned server farm, which contradicts the Electricity Authority's directives. The companies maintain the project is contingent on receiving required approvals.
The story in 5 lines · by baba
- Afcon, Sonol, and Pentech Energy plan a 900 MW power plant in Haifa Bay.
- The project includes a server farm and energy storage facility.
- The estimated cost for the power station is 4 billion shekels.
- The chosen location conflicts with government policy.
- The server farm plan opposes Electricity Authority policy.
Afcon, Sonol, and Pentech Energy announced a joint venture on Tuesday to establish and operate a conventional power station with a capacity of approximately 900 megawatts. The partnership also plans to build a server farm and an energy storage facility adjacent to the power plant. Sonol Israel will hold a 45% stake, with Afcon Energy and Pentech Energy each holding 27.5%. The estimated cost for the power station alone, excluding the server farm and storage facilities, is around 4 billion shekels.
However, the proposed location for the power plant contradicts a government decision that designated preferred locations for power stations between Ashkelon and Hadera. Furthermore, the intention to build a server farm near the station goes against the policy of the Electricity Authority. Afcon stated that the initiative is subject to the necessary approvals.
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