OPC Energy Secures Building Permit for 850 MW Hadera 2 Power Plant Project
KEN has more than doubled off its 52-week low of $32.742.
Summary
Kenon Holdings' subsidiary, OPC Energy, announced it has received a building permit for its 850 MW Hadera 2 natural gas-fired power plant project.
Key Events · Product Development and Regulatory · KEN
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Building Permit Received
OPC Energy Ltd., a subsidiary of Kenon Holdings, has been granted a building permit for the Hadera 2 project, an 850 MW natural gas-fired power plant.
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Advancing Towards Financial Closing
The company is now working to complete all necessary actions, agreements, and conditions required for the financial closing of the Hadera 2 project.
Analysis · KEN · Energy & Transportation
Kenon Holdings' subsidiary, OPC Energy, has received a crucial building permit for its 850 MW Hadera 2 natural gas-fired power plant project. This regulatory approval is a significant milestone, de-risking the project and moving it closer to financial closing and construction. The successful development of such a large power plant could substantially contribute to OPC Energy's future revenue and asset base.
At the time of this filing, KEN was trading at $85.84 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.5B. The 52-week trading range was $32.74 to $95.93. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.