01/04
01/10/2023 | 06:11am EST
Message :
Holdings of OPC's Operations in Israel Pursuant to Agreement with Veridis Power Plants Ltd.
Singapore, January 10, 2023. Kenon Holdings Ltd.'s (NYSE: KEN, TASE: KEN) ("Kenon") subsidiary OPC Energy Ltd. ("OPC") announced today that the transactions contemplated by the agreement with Veridis Power Plants Ltd. ("Veridis") to reorganize the holdings of OPC's operations in Israel (the "Reorganization") was completed on January 9, 2023. Prior to the Reorganization, Veridis held a 20% interest in OPC's subsidiaries OPC Rotem Ltd. and AGS Rotem Ltd. (together, "Rotem") and OPC held the remaining 80%. As part of the Reorganization, OPC formed a new subsidiary, OPC Holdings Israel Ltd. ("OPC Holdings Israel"), to hold and operate all of OPC's business activities in the energy and electricity generation and supply sectors in Israel. Also pursuant to the Reorganization, OPC transferred to OPC Holdings Israel, among other things, its 80% interest in Rotem, its interest in Gnrgy Ltd., as well other operations in Israel including OPC-Hadera, Tzomet, Sorek, energy generation facilities on consumers' premises and virtual electricity supply activities, and Veridis transferred its 20% interests in Rotem to OPC Holdings Israel. In addition, Veridis invested NIS 425 million (approximately $125 million) in cash in OPC Holdings Israel, of which NIS 400 million (approximately $118 million) was used by Rotem to repay a portion of the shareholders' loans provided to Rotem in 2021 by OPC and Veridis. Following completion of the Reorganization, OPC holds 80%, and Veridis holds the remaining 20%, of OPC Holdings Israel, which holds 100% of Rotem and the other business activities in the energy and electricity generation and supply sectors in Israel transferred by OPC. Pursuant to the agreement, OPC and Veridis also entered into a shareholders' agreement to regulate the relationship between OPC and Veridis in OPC Holdings Israel. For more information on the shareholders' agreement, see Kenon's report on Form 6-K furnished to the SEC on May 9, 2022. Attachments

Kenon : OPC Energy Ltd., a Subsidiary of Kenon Holdings Ltd., Announces Completion of Reorganization of Holdings of OPC's Operations in Israel Pursuant to Agreement with Veridis Power Plants Ltd - Form 6-K

2022
01/04/2023 | 06:18am EST
Message :
Kenon's Subsidiary OPC Energy Ltd. Announces
Agreement by CPV, a subsidiary of OPC, to Acquire Wind Energy Power Plants in the U.S.
Singapore, January 4, 2023. Kenon Holdings Ltd.'s (NYSE: KEN, TASE: KEN) ("Kenon") subsidiary OPC Energy Ltd. ("OPC") announced today that OPC's subsidiary, CPV Group LP1 ("CPV"), through a 100% owned subsidiary, has entered into an agreement (the "Agreement") to acquire four operating wind-powered electricity power plants in Maine, United States, with an aggregate capacity of 81.5 MW. The plants operate in the ISO-NE market in the United States, and started commercial operations between 2008 and 2017. These plants are expected to sell their entire electricity output and green energy certificates (RECs), under existing power purchase agreements (the "PPAs") over the next 13 to 19 years. The power plants' revenue in 2020, 2021, and the first 9 months of 2022 were $22 million, $23 million and $17 million, respectively. The purchase price for the acquisition is $172 million, subject to adjustments and the terms and conditions set forth in the Agreement. CPV intends to finance approximately 50% of the purchase price using external financing. OPC intends to finance its portion of the remaining amount of the purchase price through its own resources, by raising equity and/or through external financing. The Agreement contains certain representations of the parties, including the sellers' representations on the power plants, which expire on the closing date, and also contains waivers of certain claims CPV may bring against the sellers. Due to such limits to the sellers' liability, CPV intends to obtain a standard representations and warranties insurance policy, which would limit the coverage to 10% of the purchase price and for a limited period. The acquisition is subject to conditions, including the receipt of regulatory approvals, which are expected to be obtained within the next 2 to 5 months. Caution Concerning Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about the agreement to acquire power plants, including the terms and conditions of the Agreement, expected sale of electricity and RECs by the plants, expected financing of the purchase price, expected purchase of representations and warranties insurance policy, expected timeline of regulatory approvals and other non-historical statements. These forward-looking statements are based on current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties, which could cause the actual results to differ materially from those indicated in Kenon's forward-looking statements. Such risks include the risk that the transactions contemplated by the agreement described above are not consummated on the terms described herein and under the Agreement or at all, risks relating to the future sale of electricity and RECs, risks relating to the expected financing of the purchase price, risks relating to the expected purchase of representations and warranties insurance policy, including the terms and conditions of any such policy or the sufficiency of any such policy in the event of any related loss, that the conditions to completion of the acquisition are not fulfilled including due to lack of required approvals and that the agreement does not result in a completed transaction and other risks, including those set forth under the heading "Risk Factors" in Kenon's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. Except as required by law, Kenon undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise. The OPC securities referenced in this press release have not been registered under the Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under that act. 1 OPC indirectly holds a 70% interest in CPV Group LP. Attachments

Kenon : Subsidiary OPC Energy Ltd. Announces Agreement by CPV, a subsidiary of OPC, to Acquire Wind Energy Power Plants in the U.S - Form 6-K

09/21/2022 | 06:10am EDT
Message :
Kenon's Subsidiary OPC Announces Private Placement by OPC
Singapore, September 21, 2022. Kenon Holdings Ltd.'s (NYSE:KEN, TASE:KEN) ("Kenon") subsidiary OPC Energy Ltd. ("OPC") announced on September 21, 2022 that it has agreed to a private placement of OPC's ordinary shares with a number of classified investors. OPC has agreed to issue and allot a total of 12,500,000 ordinary shares of OPC for total gross consideration of approximately NIS 500 million (approximately $145 million), at a price of NIS 40 per share, reflecting approximately an 8% discount on the closing price of OPC's shares as of September 20, 2022. The allocation of shares pursuant to the private placement is subject to the approval of the Tel Aviv Stock Exchange. Following the completion of the private offering, Kenon is expected to hold approximately 55% of OPC's shares. The OPC securities referenced in this press release have not been registered under the Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under that act. Caution Concerning Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the private placement of OPC shares, including the terms and conditions of the offering, including the requirement for the approval of the Tel Aviv Stock Exchange of the private placement and other non-historical matters. These statements are based on current expectations or beliefs and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Kenon's control, which could cause the actual results to differ materially from those indicated in such forward-looking statements. Such risks include the risks that the private placement is not approved by the Tel Aviv Stock Exchange, the private placement is not carried out as contemplated or at all and other risks and factors set forth under the heading "Risk Factors" in Kenon's most recent Annual Report on Form 20-F filed with the SEC and other filings. Except as required by law, Kenon undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise. Attachments

Kenon : Subsidiary OPC Announces Private Placement by OPC - Form 6-K

Mark Rubens/Shutterstock.com
January 29 (Renewables Now) - Renewables Now covered M&A stories about First Solar, Shell, Naturgy, Northland Power and others over the past week. Below is the full list:
-- Encavis buys 110-MWp Dutch solar park for special fund
The asset management unit of German renewables operator Encavis AG (ETR:CAP) has acquired a 110-MWp solar park in the Netherlands for its special fund Encavis Infrastructure III (EIF III). -- Adani Green to buy 20-MW solar farm in Uttar Pradesh
Adani Green Energy Ltd (BOM:541450), or AGEL, announced that it has agreed to buy the holding company for a 20-MW operating solar power plant in the Indian state of Uttar Pradesh. -- Shareholders in Spain's Solarpack shed 12.4% in accelerated bookbuild
Four shareholders in Spanish solar power producer and developer Solarpack Corporacion Tecnologica SA (BME:SPK), sold a combined 12.39% stake in the company through an accelerated bookbuild. -- AC Energy buys Solar Philippines subsidiary as part of JV plan
AC Energy Philippines (PSE:ACEN) has acquired a 97.6% stake in a subsidiary of solar and battery storage supplier Solar Philippines Power Project Holdings Inc, namely Solar Philippines Central Luzon Corp (SPCLC). -- Leeward to buy 10-GW project platform from First Solar tied to panel orders
First Solar Inc (NASDAQ:FSLR) has struck a deal to sell a 10-GW utility-scale solar project platform to the development arm of US independent power producer Leeward Renewable Energy LLC. -- Impax sells 110-MWp Dutch solar park to German pension fund
A fund owned by sustainability-focused investor Impax Asset Management Group Plc (LON:IPX) has offloaded a 110-MWp solar park in the Netherlands to German pension fund Versicherungskammer Group. -- Boralex buys 20-MW solar project in New York state
Canadian renewables developer Boralex Inc (TSE:BLX) said it has closed the acquisition of a 20-MW solar project in New York state from Delaware River Solar LLC. -- Brazil's Cade okays AES' acquisition of 158.5-MW wind portfolio
Brazil's competition regulator CADE has okayed the acquisition of a 158.5-MW wind portfolio by local power producer AES Brasil (B3:TIET11), formerly AES Tiete Energia SA. -- Matrix Renewables to buy 154 MWp of DG solar in Chile
Madrid-based platform Matrix Renewables, created by asset manager TPG, will add 154 MWp of solar farms to its Chilean portfolio in a newly agreed acquisition from developer Verano Capital. -- Israel's OPC Energy concludes acquisition of US gas, renewables co CPV
Private electricity company OPC Energy Ltd and three Israeli institutional investors have closed their USD-630-million acquisition of US gas and renewables developer and builder Competitive Power Ventures (CPV). -- Eco Atlantic Oil & Gas forms renewables JV targeting European solar market
Canada’s Eco Atlantic Oil & Gas Ltd (LON:ECO) has launched a renewable energy joint venture (JV) with UK-based Nepcoe Capital Partners Ltd with the goal to source, acquire and develop high yield solar projects in the sunniest parts of Europe. -- Sunlight Financial to gain NYSE listing via Apollo-backed reverse merger
US residential solar financing platform Sunlight Financial LLC will secure a listing in New York through a newly-agreed business combination with a publicly-traded special purpose acquisition company sponsored by Apollo Global Management Inc (NYSE:APO). -- SUSI buys 90 MW of UK energy storage assets
Swiss asset manager SUSI Partners AG announced the acquisition of four energy storage assets in the UK with a combined capacity of 90 MW as part of a partnership with local battery storage developer Eelpower Ltd.
-- Shell joins Simply Blue in 300-MW floating wind project off Irish coast
Simply Blue Energy is selling to Shell New Energies a 51% stake in the project company for its Emerald floating wind project in the Celtic Sea. -- Clairvest’s NovaSource continues with M&A push, merges with SunSystem
Two providers of operations and maintenance (O&M) services for renewable energy plants, namely NovaSource Power Services and SunSystem Technology LLC (SST), have completed a business combination. -- Amazon, MHI and others invest in electrofuels co Infinium
US electrofuels company Infinium has wrapped up a funding round with the participation of Amazon’s Climate Pledge Fund, Mitsubishi Heavy Industries (MHI), AP Ventures, Neuman & Esser, and the Grantham Environmental Trust. -- Blue Elephant buys 47 MW of Dutch solar
German firm Blue Elephant Energy AG (BEE) said it has acquired a portfolio of solar projects with a total capacity of 47 MW in the Netherlands. -- IFM offers billions in cash for 22.7% stake in Spain's Naturgy
IFM Global Infrastructure Fund (IFM GIF) launched an offer to buy up to 220 million shares in Spanish power and gas utility Naturgy Energy Group SA (BME:NTGY) to take up to a 22.69% stake in the company. -- France's Albioma acquires majority stake in Turkey's Gumuskoy geothermal power plant
France-based independent renewable energy producer Albioma said it completed the acquisition of a 75% stake in Turkish geothermal power plant Gumuskoy. -- Enphase Energy buys Canadian solar software dev Sofdesk
US solar microinverter maker Enphase Energy Inc (NASDAQ:ENPH) said it has taken over Canada-based solar services software developer Sofdesk. -- EEW sells 260-MWp Aussie PV project to unnamed renewables player
UK-based solar project developer Eco Energy World (EEW) has offloaded a 260-MWp solar project in Australia’s Queensland state to an unspecified renewable energy player. -- Cubico to co-develop, buy 200-MW wind project in Victoria
London-based renewables investor Cubico Sustainable Investments will take part in the development of the roughly 200-MW Delburn wind project in Victoria and will become its owner before construction begins. -- EDF Renewables takes full control of DG solar installer EnterSolar
EDF Renewables North America said it has become the sole owner of New York City-based distributed generation (DG) solar solutions provider EnterSolar. -- PNE makes 280-MW solar portfolio purchase in US
Chicago-based wind farm developer PNE USA Inc, a unit of Germany’s PNE AG (ETR:PNE3), has acquired a 280-MW solar project portfolio in the US. -- Avangrid clears HSR Act hurdle in PNM Resources acquisition
Avangrid Inc (NYSE:AGR), the North American clean energy business of Spanish group Iberdrola SA (BME:IBE), said that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) has expired, putting the company a step closer to closing a merger deal with US utilities holding PNM Resources Inc (NYSE:PNM). -- Frames buys 50% in Twinning Energy under Dutch hydrogen partnership
Dutch gas treatment products maker Frames Group BV has acquired a 50% stake in emission-neutral energy concepts developer Twinning Energy BV as part of a new partnership between the two, aimed at offering hydrogen mobility solutions. -- Northland joins PKN Orlen in 1.2-GW Polish offshore wind project
Canada’s Northland Power Inc (TSE:NPI) will become the offshore wind partner of Polish oil refiner PKN Orlen (WSE:PKN) by acquiring a 49% stake in an up to 1.2-GW project in the Baltic Sea. -- Battery firm Freyr to secure NYSE listing via merger with blank check co
Norwegian battery cells developer Freyr AS will merge with special purpose acquisition company Alussa Energy Acquisition Corp (NYSE:ALUS) to secure a listing in New York and create a combined company with a pro forma equity value of about USD 1.4 billion.

Weekly renewables M&A round-up (Jan 25-29)

Wind farm in Oklahoma. License: Creative Commons, Attribution 2.0 Generic
January 26 (Renewables Now) - Private electricity company OPC Energy Ltd and three Israeli institutional investors have closed their USD-630-million (EUR 519m) acquisition of US gas and renewables developer and builder Competitive Power Ventures (CPV). OPC, a subsidiary of Israeli firm Kenon Holdings Ltd (NYSE:KEN), now fully owns CPV’s operating assets, development pipeline and asset management business. It plans to pour substantial capital into the US company to pursue growth with a focus on renewable energy and highly efficient gas projects, according to the announcement. "The transaction puts OPC directly into the areas of green energy, and especially into the areas of solar energy and wind energy, which are part of CPV's significant growth engines,” said Giora Almogy, CEO of OPC. Silver Spring, Maryland-based CPV has developed, sold, financed and acquired 14.8 GW of power generation capacity, mostly related to renewables and gas-fired plants over the last 20 years. It currently has 5.5 GW of clean generation across the US and manages a further 7.9 GW of fossil and renewable generating plants in nine states through its asset management division. Morgan Stanley was the financial advisor to the seller in this transaction, namely Global Infrastructure Partners (GIP), while Latham & Watkins LLP served as lead transaction counsel. At the same time, BLK and Macquarie Capital consulted OPC on the financial matters, with Skadden Arps Slate Meagher & Flom LLP acting as lead transaction counsel. (USD 1.0 = EUR 0.824)

Israel's OPC Energy concludes acquisition of US gas, renewables co CPV

Delek Drilling

Delek Group

OPC Energy, fka IC Power Israel, builds and operates private power plants in Israel powered by natural gas.

Name	Work History	Title	Status
Irit Shadar Tobias	Delek Drilling, and Delek Group	Executive Vice President	Current
Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more

Name	Irit Shadar Tobias	Subscribe to see more
Work History	Delek Drilling, and Delek Group	Subscribe to see more
Title	Executive Vice President	Subscribe to see more
Status	Current	Subscribe to see more

Wells Fargo Success Story

Professional Services

Platform Overview

OPC Energy

Executives

OPC Energy Management Team

2 Team Members

This profile has not been claimed.

Discover the right solution for your team