Monitor progress on tariff approval from the Israeli Electricity Authority, as it is a key condition precedent. Successful approval and construction milestones could drive further upside. The long-dated completion (2030) limits near-term earnings impact.
Price Chart
Executive Summary
Kenon Holdings subsidiary OPC Energy secured a ~$1.7B construction loan from Bank Leumi and signed an EPC agreement for the 850 MW Hadera power plant expansion. The project, estimated to cost $1.7–1.8B, is scheduled for completion by 2030, subject to tariff approval and other conditions.
Key Facts
- Finance agreement with Bank Leumi for a NIS-denominated loan equivalent to ~$1.7 billion
- EPC agreement signed for turnkey, lump-sum construction of an 850 MW combined-cycle natural gas power plant
- Total estimated construction cost is $1.7–1.8 billion; senior debt expected to cover ~80%
- Completion of construction scheduled for 2030
- Finance Agreement subject to conditions precedent including tariff approval from the Israeli Electricity Authority
- Additional committed facilities include a ~$41 million VAT facility and a ~$60 million hedging facility
Financial Impact
Project cost of ~$1.7–1.8B financed via ~$1.7B senior debt, representing ~80% of total costs
Risk Factors
- Uncertainty and delay in obtaining tariff approval from the Israeli Electricity Authority
- Construction risks including cost overruns, supply chain disruptions, and force majeure
- Financing covenants could require additional equity injections if coverage ratios are breached
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001178913-26-003066 |
| Document: zk2635487.htm | 0001178913-26-003066 |
| Document: 0001178913-26-003066-index-headers.html | 0001178913-26-003066 |
| Document: 0001178913-26-003066-index.html | 0001178913-26-003066 |
| Document: 0001178913-26-003066.txt | 0001178913-26-003066 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 30, 2026 26d ago | Press Release | $60.20 $62.06 | ▲ +3.09% | ▲ +1.18% | $66.29 (+10.12%) |
Sep 30, 2026 26d ago | 6-K | $60.20 $62.06 | ▲ +3.09% | ▲ +1.18% | $66.29 (+10.12%) |
Sep 28, 2026 28d ago | 6-K | $64.10 $61.21 | ▼ −4.51% | ▼ −5.71% | $66.29 (+3.42%) |
Sep 10, 2026 6w ago | 6-K | $65.15 $66.25 | ▲ +1.69% | ▲ +2.19% | $66.29 (+1.75%) |
Aug 19, 2026 9w ago | 6-K | $64.06 $66.20 | ▲ +3.34% | ▲ +3.73% | $66.29 (+3.48%) |
Aug 14, 2026 10w ago | 6-K | $66.49 $66.25 | ▼ −0.36% | ▲ +1.01% | $66.29 (−0.30%) |
Jun 22, 2026 18w ago | 6-K | $66.22 $67.61 | ▲ +2.10% | ▲ +2.55% | $66.29 (+0.11%) |
Jun 3, 2026 20w ago | 6-K | $81.40 $70.31 | ▼ −13.62% | ▼ −9.80% | $66.29 (−18.56%) |
Jun 1, 2026 21w ago | 6-K | $89.61 $75.10 | ▼ −16.19% | ▼ −13.44% | $66.29 (−26.02%) |
May 28, 2026 21w ago | 6-K | $91.82 $79.53 | ▼ −13.38% | ▼ −13.70% | $66.29 (−27.80%) |
US Market Status
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