Idan Ofer, already known for ZIM and Eastern Pacific Shipping, also controls Israel's largest private electricity generator. Turkey's Zorlu just sold out of the country's second-largest one.
Idan Ofer, whose shipping fortune Olam has already profiled through ZIM and Eastern Pacific, also controls Israel's largest private electricity generator — a company that supplies roughly 5% of the country's entire power grid and that started life, tellingly, as a subsidiary called IC Power.
OPC Energy: Idan Ofer's Power Business
OPC Energy, Israel's first and largest private electricity company, was incorporated in 2010 as IC Power Israel before rebranding in 2017. It operates under the control of Kenon Holdings, a company majority-controlled by Idan Ofer that spun off from Israel Corporation in 2014. OPC's Rotem power plant, commissioned in 2013, was the first privately owned power plant in Israel, and the company's Israeli operations today run at roughly 80% Kenon ownership, with the remaining 20% held by Veridis Power Plants. OPC supplies electricity both to private industrial customers and to the state-owned Israel Electric Corporation's grid, generating approximately 5% of national electricity consumption as of recent disclosures. Kenon has separately expanded OPC into the US power market through its CPV subsidiary, acquired in 2021.
Dorad: A Multinational Ownership Structure
Dorad Energy, Israel's second-largest independent power producer, operates an 840-megawatt combined-cycle gas plant in Ashkelon built at a cost of roughly $1 billion. Its ownership has recently consolidated: Turkish conglomerate Zorlu Energy sold its entire 25% stake in March 2025 to Ellomay Luzon Energy at a valuation of roughly NIS 2.8 billion for the full company, leaving the remaining stakes split between the Eilat-Ashkelon Pipeline Company's infrastructure arm (37.5%), U. Dori Energy (18.75%), and Israeli holding company Edelcom — a structure that traces part-ownership of Israeli power generation back to the same pipeline infrastructure used for crude oil transit between Eilat and Ashkelon.
The Map, at a Glance
- OPC Energy — controlled by Kenon Holdings (Idan Ofer); supplies ~5% of Israeli electricity; also operates in the US via CPV.
- Dorad Energy — EAIS (37.5%), Ellomay Luzon Energy (bought out Zorlu's 25% in 2025), U. Dori Energy (18.75%), Edelcom.
Frequently Asked Questions
Who owns Israel's largest private power company?
Kenon Holdings, majority-controlled by Idan Ofer, controls OPC Energy, Israel's first and largest private electricity generator.
Is Dorad still partly Turkish-owned?
No longer. Turkish company Zorlu Energy sold its 25% stake in Dorad to Ellomay Luzon Energy in March 2025.
Related Olam Coverage
Sources
MatrixBCG, Kenon Holdings ownership (Idan Ofer); MatrixBCG, OPC Energy ownership history; Wikipedia, Dorad Power Station; SEC filing, Ellomay Luzon's acquisition of Zorlu's Dorad stake.
How we report: Olam stories draw on public filings, company disclosures and named sources, checked by our editors. Read our methodology · Corrections
