ISRAEL CHEMICALS LTD IPP

Construction of a Combined Cycle Gas Turbine (CCGT) for Israel Chemicals Ltd's (ICL) own use. The plant will be fired by natural gas and located in Israel on ICL plant's premises in the Southern part of the Dead Sea.

Objectives

The project fulfils the Bank's external mandate objective to develop economic energy infrastructure as it will contribute to increased electricity production. In addition, because of its expected efficiency and due to the usage of a low-carbon fuel, the CCGT plant’s carbon intensity will be 50% lower than average carbon intensity of electricity in Israel and much lower than emissions from the current Heavy Fuel Oil-fired generator of the industrial site. The project will also support an Israeli private sector company. It therefore fulfils the Bank's external mandate objective to develop the local private sector.

Comments

Sector(s)

Energy

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

EUR 300 million

Environmental aspects

The Environmental Impact Assessment for the project was completed in 2009 and it did not identify any significant negative residual impacts of the investment. The plant’s construction is planned on a site next to the existing industrial plant and on land designated for industrial use, so it is expected that its environmental impact will be relatively limited for a project of this nature. The use of natural gas will result in significantly lower level of specific emissions than those resulting from the current use of Heavy Fuel Oil.

Procurement

The Bank will require the promoter to ensure that the project will be implemented in accordance with the Bank’s Guide to Procurement.

Status

Signed - 17/12/2012.

Related Documents

31-05-2012 - Non Technical Summary (NTS) of the Environmental Impact Assessment (EIA) EN
11-06-2012 - Environmental Impact Study (EIS) HE

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. Therefore data provided on this page is indicative and cannot be considered to represent official EIB Policy (see also the Explanatory notes).

Projects

Construction of combined cycle gas turbine combined heat and power plant near Sdom (southern part of Dead Sea)

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