Israel: Mashav Initiation and Development, a subsidiary of Clal Industries and Investments, will invest US$90m to expand its private power station, which supplies electricity to Nesher Cement Enterprises. The power station's production capacity will be initially expanded by 50MW and then by 70MW.
Clal Industries owns 75% of Mashav, and Ireland's CRH owns 25%. Mashav's 50MW natural gas-driven power station received a 20 year independent power producer license in 2010. The expansion, scheduled for mid-2014, will increase production capacity to 100MW and then to 120MW in the second half of that year. The surplus power not used by Nesher will be sold to private customers.
Clal Industries' board of directors has instructed Mashav's management to secure financing for the project from external sources.