Regulatory News Service • Aug 11, 2025
Regulatory News Service
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Registry Number: 520033291
To: Israel Securities Authority To: Tel Aviv Stock Exchange Ltd. Form Number: T121 (Public) Transmitted via MAGNA: 11/08/2025 Israel Securities Authority Email: www.isa.gov.il Tel Aviv Stock Exchange Email: www.tase.co.il Reference: 2025-01-059253
Explanation: Do not use this form when there is a designated form for the reported event. This reporting form is intended for material reports for which there is no suitable designated form.
Results of an issuance should be reported in T20 and not in this form. Reporting on bond ratings or corporate ratings should be submitted via form T125.
Approval of National Infrastructure Plan 20B – Plan for the Construction of a Power Station in Hadera
Reference numbers of previous reports on the subject: _________, _________, _________.
Further to the provisions of section 4.5.7.15d of the company's periodic and annual report regarding the government decision to postpone National Infrastructure Plan 20B, promoted by OPC Holdings Israel Ltd. (hereinafter: "OPC"), which is indirectly held at a rate of 20% by Veridis Environment Ltd., a subsidiary of the company (hereinafter: "Veridis"), for the construction of a power station on land owned by Veridis's subsidiary, INFINYA LTD (hereinafter: "the Land"), adjacent to OPC's power station in Hadera ("the Plan"), and further to the petition filed by OPC against the aforementioned postponement decision, the company is pleased to update, according to publications and information received, that in an additional discussion held by the government on 10.8.2025, it was decided to approve the Plan. Accordingly, OPC is preparing to act for the construction of a natural gas-powered power station with an estimated capacity of approximately 850 MW ("the Project") as part of an update to the Electricity Authority's decision regarding regulation for conventional generation units, which sets availability tariffs for a quota of up to four power stations with a capacity of at least 630 MW, which will receive a tariff approval by 30.6.2027 ("the Regulation"). According to the Regulation, availability tariffs were set at a rate between 3.05 agorot and 3.31 agorot depending on the timing of tariff approval close to financial closing, as well as certain incentives for the station that reaches financial closing first north of the Dan region and for early commercial operation before the end of 2029. In a preliminary estimate as of the report date, the estimated cost of establishing the Project (if established) is initially estimated at approximately NIS 4.5-5 billion. It should be noted that Veridis will examine the impact of the above on the fair value of the Land (for which, as of the report date, there is an option agreement to lease the Land for the Project), which may be material. The information in this report, including regarding the establishment of the Project as stated, the applicability of the Regulation to the Project, the Project's capacity and the aforementioned characteristics and/or the estimated construction cost and/or changes in the value of the Land and its timing, includes forward-looking information as defined in the Securities Law, 1968, based on the intentions and estimates of OPC and Veridis as of the report date, and there is no certainty as to their realization. The implementation of the Project as stated (or at all) is subject to the fulfillment of various conditions (including factors not under the control of OPC and Veridis), including the Project meeting the quota set in the Regulation at the relevant times, ensuring the execution of key agreements for the Project (such as construction, equipment, gas, and financing agreements) under appropriate terms and timing, obtaining regulatory approvals, completing surveys and permitting processes, connection and licensing, completing the other aforementioned steps, the existence of suitable market conditions, ensuring equipment and construction costs, and the non-occurrence of one or more of the risk factors to which OPC, Veridis, and the company are exposed as stated in Veridis's 2024 periodic report. Such conditions have not yet been met and there is
no certainty as to their fulfillment or the timing thereof, and therefore, as of the report date, there is no certainty regarding the implementation of the Project. It is clarified that the aforementioned regarding the revaluation of the Land as stated above is subject to an examination by Veridis, which has not yet been performed, as well as to review and audit (as applicable) by the auditors, and accordingly, as of the report date, there is no certainty regarding the possibility of such a revaluation and its timing.
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Attached file: _________
The company is not a shell company as defined in the Stock Exchange regulations.
The date the corporation first became aware of the event: 10/08/2025 At the time: 19:00
| Name | Position | ||||||
|---|---|---|---|---|---|---|---|
| 1 | Gil Agmon |
CEO and Director |
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| 2 | Ronit Bachar |
CFO |
Explanation: According to Regulation 5 of the Periodic and Immediate Reports Regulations (1970), a report submitted under these regulations must be signed by those authorized to sign on behalf of the corporation. The staff's position on the matter can be found on the Authority's website: Click here.
Reference numbers of previous documents on the subject (the mention does not constitute incorporation by reference):
Securities of the corporation are listed for trading on the Tel Aviv Stock Exchange
Short name: DELEK AUTOMOTIVE SYSTEMS LTD.
Address: P.O. Box 200, Nir Zvi, 72905 Phone: 08-9139804, 08-9139864 Fax: 08-9139946
Email: [email protected]
Electronic reporter name: Bachar Ronit Position: CFO
Address: Nir Zvi 1, Nir Zvi P.O. Box 200, 72905 Phone: 054-6999997 Fax: 08-9139846 Email: [email protected]
Form structure update date: 06/08/2024
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