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".

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.