Over the past year, energy and infrastructure M&A activity in Israel has slowed compared to the previous 12 months. The market is still active, but the focus has shifted. Instead of headline acquisitions by foreign investors, most activity has been in project financing and upgrades to existing assets.
A clear example is Dalia Energy’s major financing agreement for ILS5.3 billion (USD1.5 billion) from Bank Hapoalim for the construction of a new 850 MW power plant at Eshkol. Deals like this show that local investors and lenders remain confident in building new capacity, even while large international buyers currently appear more cautious.