Gold Bond and Doral Urban to Invest 40 Million NIS in Ashdod Energy Project
Gold Bond and Doral Urban are forming a partnership to build an 80 MWh high-voltage electricity production and storage plant. The project involves a 40 million NIS investment and is expected to generate 12 million NIS in annual revenue.
The Gold Bond Group is continuing its operational expansion, announcing an agreement with Doral Urban to construct and operate a high-voltage electricity production and energy storage plant on company land in the Ashdod industrial zone. The investment in the facility is estimated at approximately 40 million NIS, with an expected maximum capacity of about 80 MWh.
Gold Bond initiated the project and received approval from the Israel Electric Corporation in January 2026. To implement the project, the company partnered with Doral Urban, which specializes in urban renewable energy, including the development, construction, and operation of power generation and storage facilities.
The plant will be built as a 50/50 partnership. Doral Urban will provide expertise in procurement, asset management, and electricity trading, leveraging the experience of Doral Energy, which currently operates over 1.6 GWh of storage capacity.
Amos Dei, CEO of Gold Bond, stated:
"The agreement with Doral Urban is another milestone in developing and enhancing the company's assets. We are confident that this partnership with a high-quality firm experienced in energy infrastructure will lead to the rapid advancement of the project."
Dei added that the energy sector in Israel is experiencing high demand, and the project aligns with the company's broader growth strategy.
Under the terms of the agreement, Gold Bond will lease a one-dunam plot and roof space in the Ashdod industrial zone to the partnership. Gold Bond estimates that annual revenue from electricity sales fed into the distribution network will average 12 million NIS. Additionally, Gold Bond will purchase electricity at a discount from Doral Electricity from Nature for its own facilities.
Dina Shoval, Deputy CEO of Doral Urban, noted that the Ashdod project reflects the company's model of creating long-term economic value by combining quality assets with significant energy infrastructure.
The agreement is subject to approval by Gold Bond's general meeting, as Ampa—controlled by the Vogel family, who are significant shareholders in Gold Bond—is also a major shareholder in Doral Urban.
This move follows another strategic acquisition reported by Gold Bond last week: the purchase of Shaham Guy, a logistics and crane services firm, for approximately 121 million NIS plus VAT. Shaham Guy reported 80 million NIS in revenue and 15 million NIS in net profit for 2025.
