Welcome to our dedicated page for Kenon Holdings Ltd. SEC filings (Ticker: KEN), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Kenon Holdings Ltd.'s SEC filings document its foreign private issuer reporting as a Singapore holding company focused on OPC Energy Ltd. and power generation operations in Israel and the United States. Its Form 20-F annual reports and Form 6-K current reports include consolidated results, OPC financial information, non-IFRS reconciliations and disclosures on CPV Group.
The filings also cover annual general meeting materials, proxy voting, Singapore statutory financial statements, directors' statements, risk factors and governance matters. Current reports record material-event and capital-structure disclosures involving cash dividends, share repurchases, OPC share issuances, equity compensation registration statements and subsidiary agreements related to power-generation assets and development projects.
Kenon Holdings Ltd. (KEN) reports that its subsidiary OPC Energy Ltd. announced a new financing agreement entered into by CPV Renewable Power LLC with Bank Leumi for approximately $430 million.
The agreement includes a $250 million term loan maturing in December 2031 at an interest rate of SOFR plus 1.8% to 2.4%, primarily to repay CPV Renewables’ project loans. It also provides guarantee and letter-of-credit facilities of about $180 million, generally replacing existing facilities, with commissions between 1% and 2%. CPV Renewables will be subject to customary financial covenants, undertakings, limitations, events of default and repayment provisions typical for financings of this kind.
Kenon Holdings Ltd. (KEN) reported sharply higher results for Q2 and the first half of 2026, driven mainly by its 46% interest in OPC Energy. For the six months ended June 30, 2026, consolidated revenue was $696 million and profit was $88 million, compared with $378 million and $33 million in the prior-year period.
For Q2 2026, OPC generated revenue of $379 million and profit of $15 million, with Adjusted EBITDA including proportionate share of associated companies of $131 million, up from $196 million, $1 million and $90 million, respectively, in Q2 2025. OPC’s revenue increase of $183 million was split between Israel ($203 million vs $153 million) and the U.S. ($176 million vs $43 million).
Kenon highlighted strong liquidity and project activity. As of June 30, 2026, OPC held $1,261 million of unrestricted cash and cash equivalents against total consolidated indebtedness of $2,977 million, while Kenon’s stand‑alone cash was $512 million, rising to $605 million by August 31, 2026. Kenon also received approximately $93 million (subject to tax) from a $203 million arbitration award payment by the Republic of Peru, and OPC advanced its Hadera Expansion Project and brought the 114 MW Rogue’s Wind project into commercial operation.
Kenon Holdings Ltd. (KEN) reports that the Republic of Peru has paid the arbitration award issued in October 2023 by an International Centre for Settlement of Investment Disputes tribunal in Kenon’s favor. The payment represents final settlement of amounts payable by Peru in connection with the award and concludes this matter.
The total payment was approximately $203 million, of which Kenon’s share, after allocating a portion of the proceeds to a capital provider and paying certain expenses, is approximately $93 million, subject to tax. The award had ordered Peru to pay Kenon and IC Power $110.7 million in damages plus $6.4 million in certain fees and costs, together with pre‑award and post‑award interest, and followed dismissal of Peru’s application to annul the award. Kenon had previously entered into a funding agreement under which a capital provider was entitled to a return of its capital and a portion of award proceeds.
Kenon Holdings Ltd. reported that its subsidiary, OPC Energy Ltd., plans a bond financing in Israel. OPC is offering NIS 600 million (approximately $202 million) of Series E Bonds intended for listing on the Tel Aviv Stock Exchange (TASE). The structure includes a preliminary placement to qualified institutional investors followed by a retail tranche. Institutional investors have already submitted orders totaling about NIS 1.33 billion (approximately $450 million) of bonds, indicating demand above the announced offering size. The bonds are expected to carry an annual interest rate of no more than 4.56%, with the final rate to be set in the retail phase. Completion of the transaction remains at OPC’s discretion and is conditioned on required approvals, including TASE approval. The bonds will not be registered under the U.S. Securities Act of 1933 and are not being offered or sold in the United States.
Kenon Holdings’ subsidiary OPC Energy Ltd. reports substantially stronger operating results for the six and three months ended June 30, 2026. For the first half, consolidated revenue rose to $696 million from $378 million, while EBITDA after proportionate consolidation increased to $255 million from $203 million (up about 26%). Net income was $29 million versus $27 million, and adjusted net income doubled to $67 million from $33 million. FFO grew to $165 million from $125 million (up about 32%).
In the second quarter, EBITDA after proportionate consolidation rose about 46% year over year, with U.S. EBITDA up 58% and Israel up 28%, driven by higher energy margins, higher PJM capacity prices and increased stakes in the Shore and Maryland plants. Q2 net income reached $15 million (vs. $2 million) and adjusted net income $34 million (vs. $5 million).
Strategically, OPC advanced major growth projects: financial close and construction start of the 850 MW Hadera expansion; development of the ~550 MW Ramat Beka solar-plus-storage project; a long-term PPA in Israel covering up to 460 MW for data centers; and U.S. gas projects Shay (2.1 GW) and Walker (1.5 GW). The 114 MW Rogues Wind project entered commercial operation with a $160 million tax equity investment and expected first full-year EBITDA of about $26 million. OPC Israel was awarded 200 MW of capacity certificates to 2029. Credit quality improved, with local ratings affirmed or upgraded and early redemption of about $68 million of debentures.
Kenon Holdings reports a favorable decision from an ICSID ad hoc committee that dismissed the Republic of Peru’s application for partial annulment of a prior arbitration award. The committee also ordered Peru to pay approximately $1.3 million toward Kenon’s and IC Power’s legal fees for the annulment proceedings.
As of June 29, 2026, the total arbitration award, including awarded fees, costs and accrued interest, is approximately $200 million. Kenon’s estimated share is about $93 million, including interest and net of certain outstanding arbitration costs, subject to tax. A funding agreement entitles a capital provider, which has committed $12 million to date, to repayment and up to approximately 55% of net claim proceeds, so the ultimate cash benefit to Kenon will depend on this arrangement and on collection of the award.
Kenon Holdings, through its subsidiary OPC Energy, reports a key regulatory milestone for the Hadera Expansion Project, a combined-cycle natural gas power plant with an estimated capacity of about 850 MW. OPC has received tariff approval from the Israeli Electricity Authority under the regulatory framework expected to apply to the project and confirmation that the project meets conditions for financial closing. The approval sets an availability tariff of 3.31 agorot for roughly 25 years from commercial operation and provides for energy sales at the half-hourly market price, SMP. Kenon also highlights typical project and regulatory risks, including construction delays and potential changes in the applicable framework.
Kenon Holdings, through its subsidiary OPC Energy, has arranged project financing and an EPC contract for the Hadera power plant expansion in Israel. The expansion is a combined-cycle natural gas plant with an estimated capacity of about 850 MW, to be built next to the existing Hadera facility.
The project company signed a Finance Agreement with Bank Leumi for a NIS‑denominated loan equivalent to approximately $1.7 billion, at an interest rate of the prime rate plus a spread of 0% to 0.7%. The initial loan term is six years from first drawdown, with a potential extension of up to four additional years, and OPC expects senior debt to cover around 80% of total construction costs.
The loan is backed by a shareholder guarantee from OPC Holdings Israel and wide-ranging collateral over project assets, licenses and agreements, and includes covenants such as a minimum loan life coverage ratio during construction. An EPC Agreement with a joint venture contractor covers turnkey, lump-sum construction, with EPC and key equipment costs together expected to be about 60% of the total estimated construction cost of roughly $1.7–$1.8 billion. Commercial operation is targeted for 2030, but the financing is subject to conditions precedent including tariff approval and permits, and the company highlights multiple construction, regulatory and cost risks.
Kenon Holdings Ltd. has entered into a collar transaction with an investment bank covering 6,000,000 ordinary shares of OPC Energy Ltd., representing approximately 2% of OPC’s outstanding shares held by Kenon.
Before this deal, Kenon owned about 142,000,000 OPC shares, or roughly 46% of the company. The collar combines a purchased put option and a sold call option set around a reference price equal to the U.S. dollar value of NIS 124, giving Kenon downside protection while preserving upside up to the call strike.
The three-year collar can be settled in cash or OPC shares at Kenon’s election, requires no premium payment to the counterparty, and uses the 6,000,000 shares as collateral. It also provides a potential source of liquidity, as Kenon may in certain circumstances borrow against the collar under its terms.