The mayor of Yavne wrote a letter to Israel Katz, demanding a resolution to the power outages that Yavne has been dealing with for years.
"This step will expand the country's revenue and strengthen diplomatic ties between Israel and Egypt," Energy Minister Israel Katz said.
A total of nine companies, five of which were new to the Israeli market, placed bids on Israeli offshore hydrocarbon exploration.
The "kosher electricity" storage facility will solve renewable energy challenges and will also help some haredi citizens who bar using electricity on Shabbat.
Israel Katz announced that he will submit the plan for approval at the cabinet meeting for his national storage plan for accumulating electricity during low hours.
Tempo is partially owned by Heineken International and is known for producing popular brand drinks such as Heineken, Pepsi and Nestle.
The company’s record-breaking natural gas sales from the Leviathan gas fields have propelled Ratio Energies into 2023 at a strong production pace.
The move comes after criticism from Opposition leader MK Yair Lapid about the rising gas prices.
The institute will help work towards reaching Israel's goal of zero greenhouse gas emissions by 2050 – a goal established in light of the ongoing climate crisis.
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