April 16, 2019 / 9:34 AM / 4 days ago

Israel Electric signs General Electric to build gas power unit

JERUSALEM (Reuters) - State-owned Israel Electric Corp said on Tuesday it will pay General Electric about 1 billion shekels ($280 million) to build and maintain a new unit at one of its power stations.

Israel Electric (IEC) said it has an option to partner with GE on a second unit as well at the Orot Rabin power station in the coastal city of Hadera.

The new gas-powered units, each with capacity to produce 630 MW of electricity, will replace older units that run on coal.

Israel has pledged to stop producing electricity from coal by 2030, and IEC said it was committed to bring the first new unit online by June 2022, and the second about half a year later.

Reporting by Ari Rabinovitch; Editing by Tova Cohen

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