Meir Shamir in talks to acquire a stake in the power plant of Tzahi Abu and Jackie Ben Zaken for 1 billion shekels
Shamir Energy, controlled by Meir Shamir, is in talks to acquire 30%-70% of the power plant owned by Ari Nadlan and Tzahi Abu, as well as Jackie Ben Zaken, in the Menashe Regional Council.
Shamir Energy, controlled by Meir Shamir, is in talks to acquire 30%-70% of the power plant owned by Ari Nadlan and Tzahi Abu (60%) and Jackie Ben Zaken (40%) in the Menashe Regional Council. Calcalist has learned that the value of the plant in the deal, if it matures, will be up to 1.5 billion shekels, subject to receiving final approvals for the plant's construction.
Sources close to Shamir Energy claim that Abu initiated the move. Ari Nadlan reported the day before yesterday that the National Infrastructure Committee (NIC) decided to publish the preparation of the Orot Yitzhak power plant and set conditions for permits regarding the areas designated for the access road to the power line and the locations of the pressure reduction facility. This means the plan is entering a statutory track, marking the areas for the project and increasing its planning certainty.
Ari Nadlan, controlled by Abu (46.4%), reported that it estimates this is a significant milestone for the approval of the power plant construction plan by the NIC. Ari Nadlan, together with Jackie Ben Zaken, Abu's partner and friend from Ashdod, won a tender from the Israel Land Authority (ILA) to purchase an area of 73.6 dunams for the construction of a power plant in September 2025 for 362 million shekels. The winner of the tender was given the right to plan, build, operate, and maintain a power plant, including all facilities necessary for this.
The company estimates that a power plant with a capacity of up to 1,700 megawatts can be built on the land and that the change of designation could bring the land's value to up to 1.5 billion shekels. The NIC will have to decide whether the plant will have a capacity of 850 megawatts (similar to the nearby Reindeer plant) or 1,700 megawatts. From the perspective of the regional councils, which oppose the construction, there is a preference for one high-capacity plant rather than two lower-capacity plants on adjacent areas. The plant borders the areas of the Emek Hefer Regional Council and is located within the Menashe Regional Council.
According to the agreement, if it matures, Shamir Energy is supposed to build the plant, operate and maintain it, and pay rent to Ari and Ben Zaken, while simultaneously holding 70% of its shares. This is because both Tzahi Abu and Jackie Ben Zaken are real estate professionals, not energy professionals, and are not interested in engaging in the construction or operation of the plant. To date, the buyers have paid 72 million shekels for the land out of a total of 326 million shekels. Abu has said in the past that the model he and Ben Zaken aspire to is one of ownership and leasing, where they hold the asset, lease it to an experienced operator, and enjoy a stable long-term return.
Shamir Energy, for its part, is becoming a major player in the energy production sector with the construction of the Kesem power plant it controls, and its holding in Alon Tavor, together with Rapac. Ari Nadlan operates mainly in the acquisition of land and the development of commercial complexes and shopping centers, including the Star Center Ashdod complex, Star Mall in Nahariya, MYMALL in Limassol, Cyprus, and the Star Center Eilat mall. About two weeks ago, the deal in which Ari Nadlan, in equal partnership with Ishpro of Kidan Dahari and Yaron Adiv, was supposed to acquire control of Haim Katzman's real estate company, G City, fell through. Katzman doubted the ability of Dahari and Adiv to meet the terms of the deal, following which the deal was canceled.
