Mergers & Acquisitions ·
Kenon subsidiary OPC Energy agrees to sell distributed energy business for approximately $90 million
KENKenon Holdings Ltd.
Kenon Holdings Ltd.'s subsidiary OPC Energy Ltd. entered into an agreement to sell its distributed energy business to a wholly-owned subsidiary of Aluma Infrastructure Fund (2020) Ltd. for approximately NIS 272 million ($90 million), subject to adjustments. The transaction involves the sale of entities holding operational and under-construction natural gas-fired electricity generation facilities in Israel, totaling approximately 52.2 MW. OPC retains an obligation to complete construction of certain facilities at its own expense. Completion is contingent on conditions precedent, including approval from the Israel Competition Authority, which must be satisfied within 180 days of signing. Kenon Holdings Ltd. operates in the energy sector, focusing on power generation and infrastructure.