Rapac Energy Enters Talks to Acquire 70% Stake in Orot Yitzhak Plant
Rapac Energy is in talks to acquire up to a 70% stake in the planned Orot Yitzhak power plant for NIS 1.5 billion, replacing Shamir Energy in the venture.
Rapac Energy is in advanced negotiations to acquire up to a 70% stake in the planned Orot Yitzhak power plant in the Menashe regional council area, valuing the project at up to NIS 1.5 billion. The development follows the withdrawal of Shamir Energy, which had previously held talks regarding the project.
The power plant is currently in the planning and licensing stages, with its current valuation estimated at between NIS 600 million and NIS 700 million. Upon achieving financial closure, the valuation is projected to reach NIS 1.5 billion. The project is controlled by Ari Real Estate, headed by Tzahi Abo, who holds a 46.4% stake in the company.
Three months ago, the National Infrastructure Committee decided to advance the statutory framework for Orot Yitzhak, setting conditions for access roads and pressure-reduction facilities. The land was originally acquired in September 2025 through a 73.6-dunam Israel Land Authority tender, won by Abo with a 60% stake and Jacky Ben Zaken with 40% for NIS 362 million.
Rapac Energy, controlled by the Oren family and led by CEO Itai Hagai, recently completed an IPO on the Tel Aviv Stock Exchange in July, raising NIS 420 million at a pre-money valuation of NIS 1.32 billion. The company's stock has since risen by 40%, bringing its market capitalization to NIS 1.88 billion.
