Kenon (NYSE: KEN) subsidiary secures tariff approval for 850 MW Hadera plant

Rhea-AI Filing Summary

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.

Insights

Infrastructure & utilities analyst

Tariff approval de-risks Kenon’s Hadera expansion but execution and regulatory risks remain.

The Hadera Expansion Project now has a defined revenue framework: a 3.31 agorot availability tariff for about 25 years plus energy sales at half-hourly SMP prices. This combination blends contracted capacity-style payments with market-based energy revenues.

Confirmation that conditions for financial closing are satisfied is important because it enables project financing to proceed under this framework. However, Kenon notes material uncertainties around construction execution, the evolving regulatory framework, and potential changes to tariff terms.

Future performance of Kenon’s OPC segment will depend on timely commercial operation of the Hadera plant and how actual market prices interact with the approved tariff over the approximately 25-year term described in this update.

Key Figures

Plant capacity: approximately 850 MW Availability tariff: 3.31 agorot Tariff duration: approximately 25 years +1 more

4 metrics

Plant capacity approximately 850 MW Estimated capacity of Hadera Expansion Project

Availability tariff 3.31 agorot Tariff rate for about 25 years from commercial operation date

Tariff duration approximately 25 years Period availability tariff applies from commercial operation date

Energy sale mechanism half-hourly market price SMP Energy from Hadera plant sold at SMP

Key Terms

combined-cycle, availability tariff, half-hourly market price, SMP, +2 more

6 terms

combined-cycle technical

"a combined-cycle natural gas-fired power plant, with an estimated capacity"

A combined-cycle power plant uses two linked systems—typically a gas turbine and a steam turbine—so waste heat from the first is captured to run the second, boosting overall electricity output from the same fuel. For investors, that higher efficiency means lower fuel costs per megawatt, smaller emissions per unit of power and generally better operating margins, but it also involves larger upfront construction costs and technical complexity.

availability tariff financial

"the availability tariff which will apply for a period of approximately 25 years"

half-hourly market price financial

"sale of energy at the half-hourly market price, “SMP”"

SMP financial

"sale of energy at the half-hourly market price, “SMP”"

forward-looking statements regulatory

"This press release includes forward-looking statements within the meaning"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Risk Factors regulatory

"those set forth under the heading “Risk Factors” in Kenon’s most recent Annual Report"

Risk factors are elements or conditions that could cause an investment's value to decrease or lead to potential losses. They are like warning signs or obstacles that can affect the success of an investment, making it uncertain or more unpredictable. Recognizing risk factors helps investors understand the possible challenges and make more informed decisions.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 6-K: How Foreign Companies Report to the SEC →

Available on EDGAR 06/22/2026 - 06:03 AM Accepted by SEC EDGAR 06/22/2026 - 06:02 AM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

June 19, 2026

Commission File Number 001-36761

Kenon Holdings Ltd.

1 Temasek Avenue #37-02B
Millenia Tower
Singapore 039192
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

EXHIBIT 99.1 TO THIS REPORT ON FORM 6-K IS INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-201716) OF KENON HOLDINGS LTD. AND IN THE PROSPECTUSES RELATING TO SUCH REGISTRATION STATEMENT.

Exhibits

99.1 Press Release, dated June 19, 2026: Kenon’s Subsidiary OPC Energy Ltd. Announces Receipt of the Israeli Electricity Authority’s Tariff Approval for Hadera Power Plant Expansion Project

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	KENON HOLDINGS LTD.
Date: June 19, 2026	By:	/s/ Robert L. Rosen
		Name: Robert L. Rosen
		Title: Chief Executive Officer

Exhibit 99.1 

Kenon’s Subsidiary OPC Energy Ltd. Announces Receipt of the Israeli Electricity Authority’s Tariff Approval for Hadera Power Plant Expansion Project

Singapore, June 19, 2026. Kenon Holdings Ltd.’s (NYSE: KEN, TASE: KEN) (“Kenon”) subsidiary OPC Energy Ltd. (“OPC”) has announced updates in respect of the Hadera expansion project, a combined-cycle natural gas-fired power plant, with an estimated capacity of approximately 850 MW, designated for construction on land adjacent to OPC’s Hadera power plant (the “Hadera Expansion Project”). OPC has announced  its receipt of tariff approval from the Israeli Electricity Authority in accordance with the regulatory framework expected to apply to the Hadera Expansion Project, as well as confirmation that the Hadera Expansion Project satisfies the conditions for financial closing.

The principal terms of the approval include: (i) the availability tariff which will apply for a period of approximately 25 years from the commercial operation date will be at a rate of 3.31 agorot, and (ii) sale of energy at the half-hourly market price, “SMP”.

For further information on the Hadera Expansion Project, see Kenon’s Reports on Form 6-K furnished to the U.S. Securities and Exchange Commission on June 3, 2026, May 21, 2026, May 20, 2026, March 2, 2026 and Kenon’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission.

Caution Concerning Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “estimate,” “intend,” “plan,” “believe,” “likely to,” “should,” or other similar expressions. These statements include statements relating to the Hadera Expansion Project, the capacity and other characteristics of the Hadera Expansion Project, including the terms of the tariff approval, 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 risks relating to the commercial operation of the Hadera Expansion Project, scope of the relevant regulatory framework, risks related to the terms of the tariff approval, delays or faults in executing construction work on the Hadera Expansion Project, 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.

FAQ

What did Kenon Holdings (KEN) announce about the Hadera Expansion Project?

Kenon Holdings reported that its subsidiary, OPC Energy, received tariff approval from the Israeli Electricity Authority for the Hadera Expansion Project and confirmed the project meets conditions for financial closing, establishing a long-term revenue framework for the new power plant.

What is the capacity of Kenon’s Hadera Expansion Project?

The Hadera Expansion Project is described as a combined-cycle natural gas-fired power plant with an estimated capacity of approximately 850 MW. This sizable capacity is intended to be built on land adjacent to OPC’s existing Hadera power plant in Israel.

What tariff terms apply to Kenon’s Hadera Expansion Project?

The project’s approval includes an availability tariff of 3.31 agorot for about 25 years from commercial operation, plus sale of generated energy at the half-hourly market price known as SMP, combining fixed availability payments with market-based revenue.

How long will the availability tariff for Kenon’s Hadera plant apply?

The availability tariff for the Hadera Expansion Project will apply for a period of approximately 25 years from the commercial operation date, giving the project a long-duration contracted component alongside exposure to short-term SMP market prices.

What risks does Kenon (KEN) highlight for the Hadera Expansion Project?

Kenon cites risks related to commercial operation of the Hadera Expansion Project, the scope of the regulatory framework, the terms of the tariff approval, and potential delays or faults in executing construction work, in addition to broader risks listed in its latest Form 20-F.

Where can investors find more details on Kenon’s Hadera Expansion Project?

Investors are directed to Kenon’s prior reports on Form 6-K dated June 3, 2026, May 21, 2026, May 20, 2026, March 2, 2026, and its most recent Form 20-F, which provide further details on the Hadera Expansion Project and related risk factors.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EXHIBIT 99.1 5.6 KB