Gold Bond Group to Build 80MWh Energy Storage Facility in Ashdod

Gold Bond Group reports a further step in expanding its business activities and improving its assets: the company has signed an agreement with Doral Urban for the establishment and operation of a 50/50 partnership for a high-voltage power generation and energy storage facility. The facility will be built on the company's premises in the Ashdod industrial zone, with an estimated investment of approximately 40 million NIS and a maximum capacity of about 80 megawatt-hours (MWh).

The project is moving forward after Gold Bond received a positive distribution response from the Israel Electric Corporation (IEC) in January 2026. Under the agreement, Gold Bond will lease a defined area of about one dunam to the partnership, along with the rooftops of buildings it owns in Ashdod, for the installation of solar panel systems for electricity production.

Expected revenues from the sale of stored electricity to be fed into the distribution grid are estimated at an average of 12 million NIS per year. Additionally, Gold Bond will purchase electricity at a discount for all its facilities from "Doral Electricity from Nature."

It should be noted that the agreement is subject to the approval of Gold Bond's general assembly, given the holdings of the Ampa company—controlled by the Fogel family, who are among the controlling shareholders of Gold Bond—in Doral Urban.

This move follows Gold Bond's report last week regarding a strategic deal to acquire the full business operations of Shaham Guy, a company specializing in heavy equipment transport, crane work, and logistics services, for approximately 121 million NIS.

Amos Daei, CEO of Gold Bond: "The agreement with Doral Urban represents another milestone in the development and improvement of the company's assets. In January, we received a positive distribution response from the Israel Electric Corporation, and we are confident that the partnership with Doral Urban, which possesses the experience and expertise in establishing and operating production and storage facilities, will lead to the rapid advancement of the facility. The energy sector in Israel is growing and enjoying high demand, and we will continue to develop growth engines and maximize value for stakeholders."

Dina Shuval, Acting and Deputy CEO of Doral Urban: "The partnership with Gold Bond is another step in realizing Doral Urban's growth strategy in expanding storage activities in the urban space. The project in Ashdod connects high-quality assets, significant electrical infrastructure, and energy expertise to create long-term economic value."

Gold Bond Group, managed by Amos Daei, operates cargo terminals and bonded and open warehouses adjacent to the Port of Ashdod and the Port of Haifa, alongside a cargo terminal in Beit She'an near the 'Jordan River' border crossing. The company is also active in the e-commerce sector and holds 20% of the shares of Israel Shipyards Industries.