Tzachi Abu sells half of a future power plant, worth hundreds of millions of shekels

Ari Real Estate and Avnei Sapirim are selling 50.1% of the future power plant "Orot Yitzchak" to Rapac for 370 million shekels. The plant's paper value stands at 740 million shekels and is expected to reach about 1.1 billion upon receiving a building permit. The plant is planned to produce 850 megawatts, with an option for expansion.

Ari Real Estate and Avnei Sapirim, controlled by CEO Tzachi Abu and the Ben Zaken family, are selling 50.1% of the future power plant "Orot Yitzchak" to the energy company Rapac of the Oren family, for 370 million shekels. The deal values the plant in its current state at 740 million shekels, expected to grow to about 1.1 billion shekels upon receiving a final building permit. The plant, planned to be established in the Menashe Regional Council, will have a production capacity of 850 megawatts, with an option to expand to 1.7 gigawatts. After the deal, Ari Real Estate will hold about 30% of the plant and Avnei Sapirim about 20%. The plant is in planning processes with the National Infrastructure Committee (VATAL) and has not yet been finally approved. It faces opposition from the Hefer Valley and Menashe regional councils, but the government is expected to approve 13 additional power plants in the central region in the coming years to meet energy demands.