Kenon Holdings Ltd. reports corporate and operating developments as a holding company whose primary business is OPC Energy Ltd., an owner, operator and developer of power generation facilities in the Israeli and U.S. power markets through OPC and CPV Group.
Recurring updates cover annual and quarterly results, OPC revenue by geography, electricity tariffs, power purchase agreements, infrastructure-service costs, natural gas and diesel expenses, energy purchases and customer consumption. Kenon also reports capital actions such as dividends, share repurchases, OPC equity offerings and private placements, as well as legacy ZIM share and derivative transactions and material agreements involving OPC power assets and development projects.
Kenon Holdings (KEN) agreed to acquire a 25% indirect equity interest in U.S. district heating and cooling business Vicinity District Energy.
Kenon's maximum cash obligation is approximately $450 million, funded from cash on hand and available liquidity. The transaction values 100% of Vicinity at $2.92 billion, subject to post-closing adjustments for cash, working capital and debt. A buyer owned by Kenon and Harrison Street Asset Management funds will acquire approximately 60% to 100% of Vicinity's holding company from an entity related to Antin Infrastructure Partners.
Lenders committed up to $1.4 billion for acquisition funding and future capital expenditures, non-recourse to Kenon and its partner. Kenon expects closing in Q2 2027, subject to regulatory approvals and other closing conditions. Kenon's guarantee of certain termination fees and expenses is capped at $40.2 million.
Kenon Holdings (KEN) reported Q2 2026 results led by sharp growth at 46%-owned OPC Energy and material balance-sheet and project updates.
OPC’s Q2 2026 revenue was $379 million versus $196 million in Q2 2025, and net profit rose to $15 million from $1 million. Adjusted EBITDA including proportionate share of associated companies increased to $131 million from $90 million. Revenue growth came from higher Israeli customer consumption, stronger New Israeli Shekel rates, higher infrastructure-service tariffs, and first‑time consolidation of the Shore and Maryland U.S. power plants, plus expansion of U.S. retail activities.
OPC’s cost of sales (excluding D&A) increased to $265 million from $150 million, finance expenses rose to $22 million, and share of profit of associates fell by $17 million. As of June 30, 2026, OPC held $1,261 million in unrestricted cash, $187 million in restricted cash, and total debt of $2,977 million. Kenon’s stand‑alone cash was $512 million at June 30, 2026 and $605 million at August 31, 2026 with no material parent‑level debt.
OPC reached financing and EPC agreements, obtained tariff approval, achieved financial closing and started construction for the ~850 MW Hadera Expansion Project in June 2026. It also completed construction and began commercial operations at the 114 MW Rogue’s Wind project in Pennsylvania, which received a $160 million tax partner investment. In August 2026, OPC issued NIS 600 million (approximately $202 million) of Series E bonds. Also in August 2026, the Republic of Peru paid about $203 million under an arbitration award, of which Kenon received approximately $93 million net, subject to tax, concluding this matter.
Kenon (NYSE: KEN) reported that the Republic of Peru has paid in full an arbitration award rendered by an International Centre for Settlement of Investment Disputes tribunal in October 2023. The total payment was approximately $203 million, of which Kenon’s share, after allocation to a capital provider and expenses, is about $93 million, subject to tax.
The payment represents the final settlement of amounts owed by Peru in connection with the award and the conclusion of this matter. The original award ordered Peru to pay Kenon and IC Power $110.7 million in damages plus $6.4 million in fees and costs, together with pre- and post-award interest.
Summary not available.
Kenon (NYSE: KEN) filed its Annual Report on Form 20-F for the year ended December 31, 2025 with the U.S. Securities and Exchange Commission on March 30, 2026. The 2025 Annual Report is available on the SEC website and Kenon's corporate website.
Hard copies of the complete 2025 audited financial statements are available free of charge upon request.
Kenon Holdings (NYSE: KEN) reported 2025 consolidated results driven by OPC Energy, highlighted by revenue of $872 million, profit of $132 million and Adjusted EBITDA of $457 million. Kenon approved an interim cash dividend of $3.85 per share (~$200 million) and received ~$34 million from settlement of a ZIM capped call. OPC completed a private placement in March 2026 for gross proceeds of NIS 800 million (~$257 million). As of Dec 31, 2025 OPC held $913 million unrestricted cash and consolidated indebtedness of $1,769 million.
Kenon Holdings (NYSE: KEN) reported Q3 2025 results and corporate updates on December 3, 2025. Key items: Kenon sold 5,422,648 OPC shares for ~NIS 340M (~$100M) and now holds ~47% of OPC; Kenon's stand-alone cash rose to $670M as of Dec 3, 2025. OPC reported Q3 2025 profit $69M (Q3 2024: $23M) and Adjusted EBITDA $156M (Q3 2024: $108M). OPC completed a private placement (~NIS 340M) and issued NIS 460M Series D bonds in November 2025. OPC announced financial closing and construction start on the Basin Ranch 1.35 GW Texas project and an agreement for CPV to buy the remaining interest (consideration ~ $371M), which may lead to consolidation upon closing.
Kenon Holdings (NYSE:KEN) reported Q2 2025 results, highlighting significant developments at its subsidiary OPC Energy. OPC successfully raised total gross proceeds of NIS 1,750 million ($506 million) through share offerings in June and August 2025. The company's Q2 2025 Adjusted EBITDA including associated companies reached $90 million, up from $66 million in Q2 2024.
Key financial metrics include revenue of $196 million (up from $181 million), with operations in Israel contributing $153 million and U.S. operations adding $43 million. The Israeli Government approved plans for the Hadera 2 project, an 850MW natural gas-fired power plant with estimated construction costs of NIS 4.5-5 billion ($1.3-1.5 billion).
As of June 30, 2025, OPC maintained $470 million in unrestricted cash with total consolidated debt of $1,403 million. Kenon's standalone cash position was approximately $560 million with no material debt, and the company expanded its share repurchase program by $10 million to $70 million total.
Kenon Holdings (NYSE: KEN) has reported its full year 2024 results with several significant developments. The company announced a $250 million cash dividend ($4.80 per share) and completed the sale of its remaining ZIM stake for $394 million. Kenon has repurchased approximately 681,000 shares for $20 million under its expanded share repurchase plan.
OPC Energy, Kenon's operating subsidiary, reported a net profit of $53 million in 2024, up from $47 million in 2023. Revenue increased to $751 million from $692 million, while Adjusted EBITDA rose to $332 million from $304 million. The company's financial position shows cash and equivalents of $264 million with total consolidated debt of $1,267 million as of December 31, 2024.