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Congratulations to Bank Leumi, Psagot and Amitim Group on the “Etgal” Power Plant on Ashdod

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Congratulations to Bank Leumi, Psagot and Amitim Group on the “Etgal” Power Plant on Ashdod

15 July 2020

We recently represented a group of lenders comprised of Bank Leumi, and funds under management of the Psagot and Amitim Groups, in a deal to finance the a new power plant to be constructed by the Shikun & Binui Group in Ashdod, in the sum of NIS 570 million.

The transaction, which remains subject to the approval of the Electricity Authority, is the culmination of several years of hard work by all parties involved and represents a significant milestone for the use of peaker power plants to enhance the flexibility and stability of the Israeli electricity grid.

The Herzog team was led by Herzog’s Head of Project Finance Mark Phillips, along with Project Finance partners Zara Gold and Eran Wagner, and associate Lidor Alfandri.

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