Sonol, Afcon and Pantlight to establish a power plant with an investment of over NIS 4 billion

Sonol, Afcon and Pantlight will establish a conventional power plant in Haifa Bay with an investment of over NIS 4 billion. The plant will have a capacity of 900 MW and will include a server farm and storage facilities. The project is in the initial planning stage.

Three energy companies – Sonol, Afcon and Pantlight – will establish a conventional power plant on land owned by Sonol in Haifa Bay, with an investment of over NIS 4 billion. The plant will have a capacity of 900 MW, and will also include a server farm of 200 MW and energy storage facilities. The project is in the initial planning stage and requires regulatory approvals, which may take many years. Ownership will be divided as follows: 45% to Sonol, 27.5% to each of the other partners. Sonol will primarily act as a real estate developer and will receive grants from the partners. Analyst Lior Vider called the agreement "a particularly important development" for Afcon, highlighting its growth potential. Sonol CEO Avi Magido said that entering the power plant development field is a significant step in the company's evolution as a diversified energy group.