Ministry of Finance, Ministry of Energy, the Electricity Authority through the Solar Projects Inter-ministerial Tender Committee,
Entities and joint ventures from the private sector in Israel and abroad, to participate in a pre-qualification process regarding a PPP project for the finance, design, construction, operation, maintenance, and transfer to the State of Israel, of a Solar PV power plant with maximum power feed to the grid of approximately 300 MW, all as further detailed in the Invitation for Pre-Qualification (the “Invitation” and “Project”, respectively).
The deadline for submitting the documents to PQ is May 26, 2020.
The Tender Committee intends to select a private sector incorporated entity to execute the Project, through a competitive process with the following two stages:
1.1. A pre-qualification process; and
1.2. A tender process, in which those participants announced as “Eligible Participants” in the pre-qualification process, will be invited to participate.
2. The pre-qualification process includes several financial pre-qualification requirements, which the Participant and/or the Members of the Participant need to demonstrate compliance with, including without limitation in the following areas, as detailed in the Invitation for Pre-Qualification:
2.1. Financial Pre-Qualification Requirements
2.1.1. Turnover: The Participant is required to have an annual weighted turnover of at least 300,000,000 NIS during the last three (3) years. The Participant’s annual weighted turnover will be calculated according to the aver-age annual turnovers of its Members during the last three (3) years, based on their most recent available audited Financial Statements, pro-rata to their Anticipated Holdings in the Participant.
Note: An adaptation to this requirement in the event a Member/s is/are a “Financial Entity”/ies (as defined in the Invitation) – is included in the In-vitation.
2.1.2. Operating Cash Flow: Each of the Members in the Participant, which is not a “Financial Entity”, complies with one of the following requirements:
18.104.22.168. The Member’s average annual cash flow from operating activities during the last three (3) years, based on its most recent available audited Financial Statements, is not negative; or –
22.214.171.124. The ratio between –
126.96.36.199.1. the absolute value of the lesser of: (1) the Member’s average operating cash flow during the last three (3) years, based on its most recent available Financial Statements; and (2) the Member’s annual operating cash flow during the year of its most recent available Financial Statement; and –
188.8.131.52.2. the Member’s equity on December 31 of the year of its most recent available Financial Statement, deducted by the “Minimal Required Equity” (as defined in Sec-tion 2.1.3 below and in the Invitation);
is lower than 25%.
2.1.3. Equity: Each of the Members in the Participant has, for every 1% of its Anticipated Holdings in the Participant, equity of 2,000,000 NIS, on De-cember 31 of the year of its most recent available audited Financial State-ment.
2.1.4. Private Investment Fund: For a Member which is a Private Investment Fund (as defined in the Invitation) – the Member complies with the follow-ing requirements:
184.108.40.206. As of the date commencing 14 days prior the Pre-Qualification Submission Date, the amount of the Unutilized Commitments under its management is at least 6,000,000 NIS for every 1% of the Member’s Anticipated Holdings in the Participant.
2.1.5. Banking Corporation / Institutional Investor: For a Member which is a Banking Corporation or Institutional Investor (as defined in the Invitation) – the Member complies with at least one of the following requirements:
220.127.116.11. Its equity (excluding minimal equity required by law, to the ex-tent relevant) is not less than NIS3,000,000 for each 1% of Antic-ipated Holdings in the Participant, on December 31 of the year of its most recent available audited Financial Statement; or –
18.104.22.168. It manages assets with a net worth value of not less than NIS50,000,000 for each 1% of Anticipated Holdings in the Par-ticipant, on December 31 of the year of its most recent available audited Financial Statement.
2.1.6. “Going Concern”: For each Member – its most recent available audited Financial Statements do not contain a “Going Concern” Notice
3. Energy Storage: The Tender Committee reserves the right to:
3.1 Include within the scope of works of the Project the finance, design, construction, operation and maintenance of an energy storage system, and
3.2 Determine whether the Eligible Participants or Experience Providers will be re-quired to demonstrate, themselves or through others, any experience or know-how with respect to energy storage systems and whether such demonstration will be scored or evaluated as part of the Tender Process.
4. Additional Requirements
4.1. For the avoidance of any doubt, it is hereby clarified that the pre-qualification requirements are only generally detailed herein, and are subject to the provisions of the Invitation.
4.2. Additional pre-qualification requirements, conditions and definitions – are contained within the Invitation, including the submittal of approvals required by any law.
4.3. The Tender Committee reserves the right to change, inter alia, the said pre-qualification requirements as well as additional prerogatives, all as set forth in the Invitation.
5. The Invitation and any updates thereto shall be available, at no charge, for online review starting on January 22, 2020 at:
Additionally, the Invitation may be obtained by email, for no charge, by sending an e-mail request to: DimonaPV@inbal.co.il
6. The participation in the Pre-Qualification stage, including the submission of clarification requests to the Tender Committee and the submission of a Pre-Qualification Submission, is conditioned upon the payment of 5,000 NIS (Five Thousand NIS). The payment shall be made by credit card at the Government’s Payment Services (Accountant General – Fees) website, at:
Alternative methods of payment are detailed in the Invitation.
7. Upon such payment, each purchaser shall be required to update the Coordinator of the Tender Committee, according to the contact details set forth in Section 8 below, and provide details about its appointed authorized representative (including address, phone number, fax number and email address). All notices and additional information pertaining to the Pre-Qualification Process will be sent only to the said appointed authorized representative.
8. Participants shall submit their Pre-Qualification Submissions in three (3) hard copies (original + 2 copies), and on four (4) CDs (one copy out of the four should be marked in black to the extent applicable pursuant to the provisions of the Invitation), in sealed signed envelopes, by no later than 14:00 on May 26, 2020, to the Tender Committee’s tender box, at the following address:
Private Public Partnerships Division, Inbal Insurance Company Ltd., Inbal House, 3 Arava St., 5th Floor, P.O.B. 282, Airport City, Ben-Gurion Airport 7015103
9. Questions and requests for clarifications may be submitted, in writing, subject to the dates set forth in the Invitation, to Mr. Ohad Ben Yossef, the Coordinator of the Tender Committee, at the address detailed in Section 7 above, or via e-mail: DimonaPV@inbal.co.il; Written responses will be issued to all Participants which paid the participation fee and provided the contact details of their authorized representative in accordance with the provisions of the Invitation.
10. For the removal of doubt, in the event of any discrepancy or contradiction between this notice and the Invitation the provisions of the Invitation shall prevail. The Tender Committee reserves the right to annul and/or revise the conditions of the Pre-Qualification Process and its schedule, to conduct clarification meetings with the Participants (or any of them), and to conduct negotiations with the Participants (or any of them), all in accordance with the provisions of the Invitation.
If you represent the company with abovementioned requirements and have the additional questions about the information mentioned above, please contact Mr. Yuval Zohar of the Electricity Authority at email@example.com