"Globes" first reported on the bid by the German engineering company earlier this week.
Siemens AG (NYSE: SI; XETRA: SIE) is in talks with Dalia Energy Ltd. to become a partner in its private power plant. Energy market sources believe that Siemens will probably acquire a 20% share in the $350-440 million project.
Dalia Energy confirmed today that it was holding talks with a subsidiary of Siemens on its entry as a partner in the power plant. "Globes" first reported on the deal with Siemens earlier this week. Siemens will also be the lead contractor for the construction of the plant, and maintain it for 15 years.
Dalia Energy intends to build a 560 megawatt power plant with production capacity of 560 megawatts, which can be later expanded to 840 megawatts, 8% of total electricity production in Israel. The plant is due to be up and running by 2010 at the latest. Dalia Energy recently received a conditional electricity production license, after it found a site for the plant in the Tzafit region near Rehovot.
Published by Globes [online], Israel business news - www.globes.co.il - on August 15, 2007
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