Israeli power market subject to increased interest

The closure of Israel Electric Corporation’s Hadera coal-fired power plant has created a vacuum major power industry players are keen to fill.

General Electric (GE) Israel CEO Nissim Zvili told "Globes" website plans to build new power stations were the focus of last week's visits to Israel by senior executives in GE and Siemens.
Jerome Pecresse of GE Renewables
The coal-fired units in Hadera, which are to be closed down by 2021, have a 1,400 MW capacity, 1,200 additional megawatts are needed to supply the projected increase in demand by 2020, meaning that the potential market in Israel for natural gas-powered electricity is 2,600-3,000 megawatts.

Opportunities are envisaged by GE in pumped storage hydroelectric and gas-fired power.

GE Renewable Energy president and CEO Jerome Pecresse on the latter's visit to Israel said, "Israel is an important market for renewable energy, with a highly developed capital market in both equity and debt that can finance you energy sector with local resources.”

"In order to keep the grid balanced, especially in view of the fact that Israel 's electricity sector is closed, the more renewable energy is developed, the more pumped-storage hydroelectric power plants you'll need. I'm talking about four-five stations - the three being planned and one or two more."

Siemens Power and Gas CEO Willi Meixner has also expressed an interest, telling Globes, "We are mainly looking at investing in building the power station to produce electricity from natural gas and supplying systems for the gas industry. The recent declaration by (Israel’s) energy minister about the halting of coal use and the development of the gas fields in Israel's economic waters is very interesting for us."

He added, "We are interested in investing in building a natural gas power station and from what I heard power stations will be built to supply 3-6 GW."

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