Recent Updates — KEN
Kenon Holdings Ltd.'s subsidiary OPC Energy Ltd. announced that CPV Renewables Power LLC entered into a financing agreement with Bank Leumi for approximately $430 million on September 10, 2026. The deal includes a term loan of roughly $250 million maturing in December 2031 at SOFR plus 1.8% to 2.4%, primarily to repay existing project loans. Additionally, the agreement provides approximately $180 million in guarantees and letters of credit with commissions between 1% and 2%. Kenon Holdings Ltd. operates in the energy sector.
Kenon Holdings reported Q2 2026 results driven by the consolidation of U.S. power plants and a $93 million receipt from Peru for an ICSID arbitration award. OPC Energy, in which Kenon holds ~46%, saw revenue double to $379 million and net profit rise to $15 million, with Adjusted EBITDA reaching $131 million. OPC also completed the Hadera Expansion Project financing and issued NIS 600 million ($202 million) in Series E bonds. Kenon's standalone cash increased to $605 million by August 2026. The company operates in the energy sector, focusing on power generation and transmission assets.
Kenon Holdings Ltd. announced that the Republic of Peru has paid an arbitration award rendered in October 2023 by the International Centre for Settlement of Investment Disputes tribunal. The total payment was approximately $203 million, with Kenon receiving approximately $93 million after allocating funds to a capital provider and covering expenses. This amount is subject to tax and represents the final settlement of the dispute, which originally involved $110.7 million in damages plus fees and interest. The matter is now concluded.
Kenon Holdings Ltd.'s subsidiary, OPC Energy Ltd., announced an offering of NIS 600 million (approximately $202 million) in Series E Bonds to be listed on the Tel Aviv Stock Exchange. The offering includes a preliminary placement for qualified institutional investors and a retail component. Institutional demand reached approximately NIS 1.33 billion ($450 million). The final interest rate is undetermined but expected to cap at 4.56% annually. Completion is discretionary and subject to regulatory approvals, including from the TASE. Kenon Holdings Ltd. operates in the energy sector, focusing on power generation assets.
Kenon Holdings Ltd.'s subsidiary OPC Energy reported consolidated EBITDA after proportionate consolidation of $255 million for the six months ended June 30, 2026, a 26% increase from $203 million in the prior year period. Net income rose to $29 million from $27 million, while adjusted net income more than doubled to $67 million from $33 million. In Israel, construction commenced on the 850-megawatt Hadera expansion project, and OPC Israel was awarded capacity certificates for 200 megawatts at a base tariff of 10.2 agurots per kilowatt. The company also signed a long-term power purchase agreement to supply up to 460 megawatts to data center customers. In the U.S., Kenon acquired full ownership of the Shore and Maryland power plants, increasing consolidated revenues significantly due to first-time consolidation. Credit ratings were upgraded by Midroog and S&P Maalot, and the company prepaid approximately $68 million in debentures. Kenon Holdings Ltd. operates as an independent power producer focused on electricity generation and energy transition projects.
An ICSID ad hoc Committee ruled in favor of Kenon Holdings Ltd. against the Republic of Peru regarding an annulment application. This decision follows legal proceedings involving the company's interests in Peru. Kenon Holdings Ltd. is an investment holding company focused on the tourism and hospitality sectors.