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. said its subsidiary OPC Energy Ltd. announced that CPV Generation Holdings, LLC, a wholly owned indirect subsidiary of CPV Group LP (71% owned by OPC), entered into an $825 million financing agreement. CPV Group LP holds 100% of the Shore and Maryland natural-gas-fired combined-cycle power plants, with capacities of 725 MW and 745 MW, respectively. The financing is non-recourse to CPV.
The $825 million principal comprises a $625 million term loan B, a $125 million letter of credit facility and a $75 million revolving credit facility. Proceeds are expected primarily to repay the plants’ existing project financing and fund an approximately $130 million dividend distribution to CPV at closing. The term loan matures on the seventh anniversary of closing and bears a SOFR-based interest rate plus a 2.5% spread. Closing is subject to conditions precedent; the financing is secured by first-ranking pledges over the projects and their assets, and a pledge over the borrower’s equity interests, and includes customary financial covenants.
Kenon Holdings Ltd. (KEN) has agreed to acquire a 25% indirect interest in Vicinity District Energy for approximately $450 million in cash, as part of a transaction with funds managed by Harrison Street Asset Management. The purchase price is based on a $2.92 billion enterprise value for 100% of Vicinity, subject to post-closing adjustments for cash, working capital and debt.
The buyer is expected to acquire between approximately 60% and 100% of Vicinity’s holding company. A lender consortium has committed up to $1.4 billion in debt financing, non-recourse to Kenon and HSAM, for part of the purchase price and a facility for future growth capital expenditures. Kenon’s maximum cash obligation is approximately $450 million; its obligation under its guarantee is limited to $40.2 million. Closing is expected in Q2 2027, subject to customary conditions including regulatory approvals or clearances.
Vicinity provides district heating and cooling in 12 U.S. cities and serves more than 700 customers across approximately 1,000 buildings. It reported approximately $611 million in 2025 U.S. GAAP revenue; expected annualized run-rate Adjusted EBITDA, a non-GAAP measure based on unaudited management information, is over $140 million. Kenon intends to fund its share using cash on hand and available liquidity.
Kenon Holdings Ltd. appointed Duncan J. Bullock as a non-executive director, effective September 29, 2026. He brings over 17 years of experience as an investment and finance professional in the energy sector, across developed and emerging markets and conventional and renewable energy infrastructure.
Kenon Holdings Ltd. (KEN), through subsidiary OPC Energy Ltd., announced that an OPC subsidiary agreed to sell the company holding OPC’s distributed energy business to a wholly owned subsidiary of Aluma Infrastructure Fund (2020) Ltd. The business develops, constructs and operates energy-generation facilities at customer premises in Israel. Approximately 52.2 MW of natural-gas-fired facilities are operational or under construction and approaching operational status.
Aggregate consideration is approximately NIS 272 million (approximately $90 million), subject to interest and certain other adjustments under the agreement. Completion is subject to conditions precedent, including approval of the Israel Competition Authority. The agreement requires OPC’s subsidiary to complete, at its own expense, construction of facilities not yet completed and includes certain arrangements for long-term natural gas and electricity supply.
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.