Dorad Energy Ltd. was incorporated in 2002 with the intention of dealing with the production of electricity, and the construction of the infrastructure required for this activity. The Company is building a combined cycle power station based on natural gas, with a production capacity of approximately 800 MW, on the premises of the Eilat-Ashkelon Pipeline Company (EAPC) located south of Ashkelon.

The electricity produced will be sold to end-users throughout Israel at competitive tariffs, and to the National Electrical Grid. The transmission of electricity to the end-users shall be done via the existing transmission and distribution lines, in accordance with the provisions of the Electricity Sector Law and its Regulations, the Standards and the tariffs determined by the Public Utility Authority - Electricity. 

Due to its diverse activities, its size, and financial strength, Dorad is considered to be a pioneer in its field.

Dorad achieved Financial Close and signed a Facility Agreement together with several related documents on November 29, 2010 (the Financial Close Date), with Bank Hapoalim Ltd. as the Debt Arranger and with Clal Finance (from Clal Insurance Company Ltd.) as the coordinator for the consortium of financial institutions, for furnishing of debt financing in the amount of 80% of the capital investment for the project by a consortium of banks and financial institutions.
 

On January 27, 2011, with the fulfillment of the conditions precedent from the Facility Agreement, Dorad achieved first drawdown for the long-term loan facility.

Construction work has started at the site, and is anticipated to finish with Commercial Operation scheduled to take place during the second half of 2013.