Sources inform ''Globes'' that Delek Group Ltd. (TASE: DLEKG) subsidiary Delek Infrastructures Ltd. has applied to the Public Utilities Authority (Electricity) for a private power license to build a 48-megawatt cogeneration power plant in Migdal Ha'Emek for the polymer cloth factory of Nilit Ltd. The power plant will cost $46 million to build.
Delek Infrastructures set up a subsidiary, IPP Delek Ramat Gabriel Ltd., in which it owns a 57% stake, for this project. The rest of IPP is owned by Sigma Epsilon Power Engineering Ltd. and Adi Energy Ltd.
In April, Delek Infrastructures subsidiary Delek Ashkelon Ltd. signed an agreement to supply Nilit with 22 megawatts a year until the power plant at the factory is built. The contract runs through 2011, and is worth NIS 70 million a year.
Delek Group CEO Asi Bartfield told "Globes" that private power stations would become a new growth engine for the company.
Delek Infrastructures owns 35% of the consortium building a 140-megawatt power station in the Guiana State in northern Brazil at an investment of $50 million. The company also plans to enter the Indian energy market.
Published by Globes [online], Israel business news - www.globes-online.com - on July 21, 2008
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