Infrastructure investment fund Generation Capital (TASE: GNRS) is buying Shikun & Binui Energy (TAE: SBEN) for NIS 4.45 billion, the two companies have announced. Should the Electricity Authority not approve the deal, Generation Capital will pay a NIS 300 million penalty to Shikun & Binui Energy. For its part, Shikun & Binui has committed to pay Generation Capital a NIS 300 penalty should it agree to a rival bid from Keystone Infra. Generation Capital’s energy subsidiary PowerGen is trying to establish itself as one of the strongest companies in the energy sector. Shikun & Binui Energy, headed by Yuval Skornik and controlled (67%) by construction and infrastructure group Shikun & Binui (TASE: SKBN), holds power production projects currently amounting to 3.2 gigawatts.