Kenon Subsidiary OPC Energy Secures $1.7B Financing and EPC Agreement for Hadera Power Plant Expansion

summarizeSummary

Kenon Holdings' subsidiary, OPC Energy, has finalized a $1.7 billion construction finance agreement and an EPC contract for its 850 MW Hadera Power Plant Expansion Project.

check_boxKey Events · Financing and Capital Events · KEN

• Major Construction Financing Secured

  OPC Energy Ltd., a subsidiary of Kenon Holdings, entered into a finance agreement with Bank Leumi le-Israel B.M. for a NIS-denominated loan equivalent to approximately $1.7 billion to fund the Hadera Expansion Project.

• EPC Agreement Signed for Power Plant Expansion

  An Engineering, Procurement and Construction (EPC) agreement was signed with a joint venture of global and local contractors for the Hadera Expansion Project, a combined-cycle natural gas-fired power plant with an estimated capacity of 850 MW.

• Significant Project Investment

  The total estimated construction cost for the Hadera Expansion Project is approximately $1.7 billion to $1.8 billion, with completion scheduled for 2030. The senior debt is expected to comprise approximately 80% of the total construction costs.

auto_awesomeAnalysis · KEN · Energy & Transportation

Kenon's subsidiary, OPC Energy, has secured critical financing and a construction agreement for its Hadera Power Plant Expansion Project. The $1.7 billion loan and EPC agreement for the 850 MW natural gas plant represent a significant step forward for this major growth initiative, which has an estimated total cost of $1.7 billion to $1.8 billion. This development de-risks the project's execution and provides a clear path to completion by 2030, underscoring the company's long-term strategic investments in energy infrastructure.