ABOUT

Dorad Energy Ltd.

was incorporated in 2002 for the purpose of engaging in the generation of electricity and its supply to private end-user clients.

Independent Power Producer, Dorad Energy Ltd. was incorporated in 2002 for the purpose of engaging in the generation of electricity and its supply to private end-user clients.

Dorad is owned by the Eilat Ashkelon Pipeline Company (EAPC) – 37.5%, Zorlu Energy – 25%, U. Dori Energy – 18.75%, and Edelcom – 18.75%.

The company has constructed a combined-cycle power plant south of Ashkelon, fired by natural gas as the primary fuel source (with diesel oil as backup), with a production capacity of approximately 840 Megawatts, at a cost of US $1.1 billion.

The full electricity generation capacity of the power station has been sold to end-user clients at tariffs that are competitive with Israel Electric Corporation (IEC) tariffs.

Transmission of the electricity to the Company’s clients is carried out through the IEC grid according to the provisions of the Electricity Sector Law 5756-1996 and its associated regulations, and the standards and tariffs determined by the Electricity Authority.

Construction of the Power Plant

In November 2010, Dorad Energy achieved financial closing and in March 2011 started constructing the largest private power plant in Israel, and the first to sell primarily to end-users. 

The construction works ended with the commencement of commercial operation in May 2014 and the company was on its way as an IPP – an Independent Power Producer.

The main impetus for the new wave of private electricity companies in Israel was the discovery of large quantities of natural gas along the coast of Israel, which enabled IPPs to set up combined-cycle power stations, fueled primarily on natural gas

Combined-cycle technology has many advantages, including high efficiency and low construction, operation and maintenance costs, in comparison with coal-fired stations. 

The project contractor who is responsible for the design, construction and commissioning of the facility until delivery is Wood Group GTS, assisted for this purpose by a number of local Israeli contractors, including Koor Metals, Hagiva, Keren, ABB, El-Mor, GES and others.

EZOM, a company owned by Edeltech and Zorlu is operating and maintaining the station since the start of commercial operation. 

OUR STORY - FROM VISION TO REALITY

With the Israeli Government’s decision in 2001 to open up the electricity market, the seed was planted in the minds of a few entrepreneurs who dreamed of setting up the first private power station to break the monopoly barrier in the market and to open it up to private electricity producers.

It was at this stage that two entrepreneurs, who in time would become the owners of the company, met one another. They started developing ideas, gathering information, delving into the Electricity Sector Law and the regulations, seeking the best path to start transforming their vision into reality.

Slowly they gathered professionals around them, each an expert in their field from the areas of engineering, regulation, law and finance – all swept along together to the same idea, which had started to snowball and evolve into the vision of establishing the first and the largest private power station in Israel.

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FROM THE CHAIRMAN

As the Accountant General for the Ministry of Finance, I had the privilege of supporting the development of the first and largest private power plant in Israel – Dorad. The entry of Dorad signified the start of a new era – an era where the electricity market turned around completely, changing from a centralized, monopolistic economy into a market with real competition for production of electricity.
Dorad’s path was not without challenges, and aside from those which have already been met – new challenges are anticipated, including the transformation of Dorad into a private power pioneer, as the flag-leader whose power plant will produce electricity for supply directly to end users – including private homes in Israel – thereby bringing the benefits of increased efficiency and reduced rates directly to the pockets of the Israeli citizens.
More than 30% of the electricity supply in this country is currently produced by private power plants using “blue and white” natural gas, of which 30% is generated by Dorad. Because of Dorad, all of us live in a cleaner and healthier environment. I am truly grateful to the managers and employees of Dorad, who are responsible for operation of the leading power production facility in Israel, and I am proud to stand at its head.
Shouky Oren

Shouky Oren - Chairman

FROM THE CEO

“There is no doubt that the market for private power producers is undergoing birth pangs and it will require a long period until a truly competitive and mature market is created.
Development time in the power production market is extremely lengthy and can extend between five and up to 10 years from the moment an entrepreneur gets under way and until the power plant starts providing electricity.
Israel is still in the transition period between a monopolistic electricity market and a competitive market for electricity, and it will probably take up to another 10 years until this competitive market stabilizes.
Knowing the electricity market as I do (and have done for over 20 years), I have been fortunate to see the changes that have started to occur in the electricity sector, which will bring about great efficiency in the field and competition, which will benefit the entire public in the State of Israel. The first to benefit will be private industrial and business clients, and it is clear that the reduction in energy costs will be reflected in the cost of their products, but individual households will ultimately also feel the benefit.
Either way, further down the road, it will be possible to see private domestic customers enjoying competitive electricity prices.
In May 2014 Dorad started to supply 7% from the total electricity demand in Israel including all the supporting systems as IT, billing, forecasting, customers portal web site, which was developed especially by Dorad.
We are at the beginning of the revolution in the electricity market, and I’m honored to have the opportunity to lead Dorad in this critical time Such competition will also be of benefit to IEC, as this entity will be challenged to streamline operations and improve in many areas. It will also allow IEC to promote its relative advantages such as building power plants and undertaking other projects abroad.
Eli Asulin
 
 
“We are only at the beginning of the road, but I am convinced that we have made a promising start.”

Eli Asulin – CEO

THE OWNERS

The Eilat-Ashkelon Infrastructure Services Company Ltd (EAIS)-(37.5%)

• EAIS is a wholly-owned subsidiary of the Eilat Ashkelon Pipeline Company (EAPC); • EAPC was founded in 1968 and serves as a bi-directional land bridge for piping crude oil between the Red Sea and the Mediterranean; • Other services provided by the company, in addition to the transmission of crude oil include: - long-term storage and the blending of different fuel types according to customer requirements; and - the provision of infrastructure services for liquefied petroleum gas, fuel oil, distillates and coal. www.eapc.co.il

(Zorlu Enerji Elektrik Uretim A.S. - (25%

• A company held by the Zorlu Group. The Zorlu Group, founded in 1953, is one of the leading holding groups in Turkey with 69 companies active in a range of areas, 32,000 employees, and exports to more than 100 countries. • Zorlu Enerji was founded in 1993. • It has built and operates, and is building, power stations all over the world, regularly supplying to around 300 industrial plants high-quality electricity generated by combined-cycle power and cogeneration plants fired by natural gas; • Zorlu Enerji is a public company and is traded on the Turkish Stock Exchange.www.zorlu.com

U. Dori Energy Infrastructure Ltd - (18.75%)

U. Dori Energy Infrastructures Ltd is held by the U. Dori Group Ltd (60%) and Ellomay Capital Ltd (40%) • The U. Dori Group was founded in 1961, and is today one of the leading construction and real estate development companies in Israel, under the control of Gazit-Globe Ltd. U. Dori is listed on the Tel Aviv Stock Exchange. You can find more information about U. Dori here. • Gazit-Globe Ltd is one of the leading global real estate companies in its field, specializing in the acquisition, development and management of income-producing properties, with a focus on activity in the area of properties that serve basic population needs. Gazit-Globe is active mainly in the area of supermarket-anchored shopping malls in developing urban areas around the world, and in the field of medical office towers in North America. The company is listed on the Tel Aviv Stock Exchange (TASE GZT) and is included in the Tel Aviv 25 (TA-25 Index) and the Real-Estate 15 indices. www.dorigroup.co.il www.ellomay.com

Edelcom Ltd-(18.75%)

Edelcom belongs to the Edeltech Holdings Group, which is involved in projects in the fields of energy, infrastructure and real estate. The company is now one of the leading private companies in Israel in the field of energy in general, and private power stations in particular. Edeltech Holdings Ltd is engaged in the establishment of private combined-cycle cogeneration power stations at the premises of various industrial plants, including: Agan Chemical Manufacturers Ltd, Makhteshim Chemical Works Ltd, Haifa Chemicals South, and CHS Israel (formerly Solbar). www.edeltech.co.il

Leadership

Dudu Bitton – CFO

Daniel Jaffe – CTO

Yael Lahav –
VP Marketing And Sales

Roni Moran - CIO

© All rights reserved to Dorad

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