A minimum bid of NIS 9 billion is required and the four bidders in the initial tender can again participate with October 17 set as the deadline for bids.
The tenders committee of Israel Electric Corp. (IEC) met yesterday and decided to issue a new tender for the sale of the Eshkol power station after the Tel Aviv District Court, sitting as the Court of Administrative Affairs, dismissed the petition of the OPC Energy-Noy Fund consortium against the IEC tenders committee, seeking cancellation of the decision to reopen the tender for the sale of the Eshkol power station.
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Court decision puts Eshkol power station sale back in play
The same terms have been set for the new tender as in the original tender. A minimum bid of NIS 9 billion is required and the four bidders in the initial tender can again participate with October 17 set as the deadline for bids.
All eyes will now be on Dalia Energy Companies, which retracted its first bid of NIS 12.4 billion and resubmitted a bid of NIS 9 billion, thus leading to the collapse of the previous tender. At present, Dalia Energy Companies looks as if it will be the only bidder for the new tender.
At the same time, it remains to be seen whether the OPC Energy-Noy Fund consortium will decide to petition the Supreme Court. Such a petition could close the door on any likelihood that the Eshkol power plant will be delivered to the buyer according to the originally planned date, December 3. In any case, this deadline even now seems quite ambitious.
Published by Globes, Israel business news – en.globes.co.il – on September 21, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
Eshkol power station credit: IEC
Nitsan Shafir and Dean Shmuel Elmas