Deal Snapshot
Israel´s OPC Energy to Acquire US-based CPV with investment of USD 700-800m
Thursday 17 September 2020

Israel-based private electricity company OPC Energy Ltd. (TASE: OPCE), Kenon Holdings Ltd.'s (NYSE: KEN) (TASE: KEN) subsidiary has signed a letter of intent to acquire control of an US-based private electricity generation company CPV (Competitive Power Ventures), with an estimated investment of USD 700-800m, part of which is also intended for investment in future projects of CPV, the company said.

The deal is still subject to a number of approvals, and to the completion of the negotiation process between the parties. Due to these trends, the Energy Information Agency expects that about 130,000mw of coal-fired power plants and power stations based on fuel oil and diesel will close by 2030. On the other hand, the agency expects the construction of over 230,000mw (wind and solar).

Date Published: 17/09/2020