Clal Insurance coverage invests $200m in Kesem energy station

Clal Insurance coverage Enterprise Holdings (TASE: CLIS) is shopping for an 8% stake in Kesem energy station, at present beneath building close to Rosh Ha’ayin, a supply has advised “Globes.” Clal pays NIS 200 million for the stake.

The principle associate within the building is Shamir Vitality, managed by Meir Shamir, together with Kibbutz Givat Hashlosha and different companions. Clal Insurance coverage is already an present holding in Shamir Vitality, having invested NIS 306 million 18 months in the past for a 20% stake. After the present direct funding , Clal immediately and not directly will personal nearly 19% of the Kesem energy station.

Kesem Vitality indicators fuel offers price $2.8b

The builders overcame main opposition to obtain approval for building of the Kesem energy station, which is able to produce about 800 megawatts, and will probably be one of many largest within the Gush Dan area. When accomplished, the ability station will function with power manufacturing expertise that’s thought-about essentially the most superior on this planet for producing electrical energy from pure fuel, using jet engines that have been specifically designed for the needs of environment friendly power manufacturing.

As half of the present funding, Clal will inject the cash in alternate for shares, in parallel with the continued funding of Shamir Vitality, which is able to keep its holding and stay the bulk proprietor of Kesem Vitality. Clal Insurance coverage can even present a credit score line to the founders to finance their share in building of the station.

Earlier this month, Kesem Vitality, which is constructing the station, introduced that it had signed a binding settlement with Siemens Vitality price €14 million for the provision of the principle tools for the development.

In April, it was reported that Kesem had signed agreements for the provision of pure fuel from Energean’s Karish and Tanin offshore reservoirs. It is a fuel provide deal is price $2 billion, over 17 years. Estimates are that building of the Kesem energy station will probably be accomplished in 2029.

Printed by Globes, Israel enterprise information – en.globes.co.il – on October 30, 2025.