To tell you simply, I envisioned this very plan coming up at some point. I thought the choice of building it in Egypt would be so as to protect the power station from Israeli bombing. (The Haaretz article only mentions the cost issue.)It wasn't clear to me the Egyptians would agree (pollution on pristine beaches), but they do. As I explained in the past to others here, that is no real problem for Israel. When you distribute power, you use big voltage transformers at some points. Of course, these can be bombed, but there is no need for destruction. The US dropped on Kandahar metallic strips that adhered to the transformers and shorted out the electrical circuit. It disrupted electricity for a couple of days each time, until the system could be cleaned up. Israel can do this too.
South African court throws out fraud case against opposition politician (Reuters)