What OPC Energy does

OPC Energy Ltd. (TASE: OPCE) is the first and leading private electricity producer in Israel and a controlled subsidiary of Kenon Holdings Ltd. (NYSE: KEN). The company develops, owns, and operates power generation assets across two principal markets — Israel and the United States — with a combined installed and under-development capacity of 14.2 GW and 4.6 GWh of energy storage. In Israel, OPC operates 1.1 GW of generation across natural gas combined cycle, cogeneration, and behind-the-meter distributed energy assets (Hadera, Mishor Rotem, Sorek 2 desalination, Tzomet Plugot), with 1.5 GW under development led by the ~850 MW Hadera Expansion project. In the United States, its ~70%-owned CPV Group subsidiary operates 2.6 GW of natural gas combined cycle and renewable assets across PJM, SPP, ISO-NE, SERC, and NYISO markets, with an additional 1.2 GW under development.

Revenue is generated through two principal mechanisms: (i) wholesale electricity sales and regulated capacity tariffs from the Israel Electricity Authority / System Operator (including a 25-year 3.31 agorot/kWh tariff for Hadera Expansion), and (ii) usage-based sales to large enterprise customers under long-term contracts and PPAs. The customer base consists primarily of large industrial and commercial load — Intel, Teva Pharmaceutical Industries, Bazan Group, Perrigo, Clalit Health Services — together with the Israel System Operator and a recently signed 19-year 460 MW data center PPA. Recent capital raises (~$610M across three 2025 placements and $255M in March 2026) plus an ~80% Bank Leumi debt commitment for Hadera Expansion point to a capital-intensive growth strategy funded by a mix of equity and project finance. FY2025 revenue was $872 million, growing to a $317 million run in Q1 2026 (up 73% YoY), with ilA+ / A1.il credit ratings reflecting the strengthening financial profile.

Name

OPC Energy

Legal name

OPC Energy Ltd.

Website

https://opc-energy.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

OPC Energy is Israel's first and largest private electricity producer, operating 14.2 GW of natural gas, solar, and wind generation capacity across Israel and the US (via CPV Group), supplying industrial customers, the national grid, and data centers under long-term regulated and contracted agreements.

Ownership category

akta.pro rank

Product category

Independent Power Generation and Electricity Supply

NAICS

Electric Power Generation, Transmission and Distribution (2211), Fossil Fuel Electric Power Generation (221112), Wind Electric Power Generation (221115), Solar Electric Power Generation (221114)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Incentives, Grants & Program Administration (Auctions, Tenders, IRA/ITC/PTC Advisory) (EUAMAAAJ)

Keywords

• Private electricity generation
• Natural gas power plants
• Combined cycle generation
• Renewable energy solutions
• Cogeneration systems

Headquarters

HQ city

Tel Aviv

HQ country

Israel

HQ region

Middle East

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D

Revenue model

1. Electricity Generation and Supply: OPC Energy generates and supplies electricity to private customers and the Israel System Operator through its portfolio of natural gas, solar, and wind power plants. Revenue is derived from wholesale electricity sales and capacity payments.
2. Capacity Tariffs: Approved capacity tariff from Israeli Electricity Authority providing stable long-term revenue for the Hadera Expansion project at 3.31 agorot per kWh for approximately 25 years post-commercial operation, providing revenue certainty independent of spot prices.
3. Power Plant Operations (US - CPV): Revenue from US operations through CPV Group subsidiary, including natural gas and renewable energy projects in PJM, SPP, ISO-NE, SERC, and NYISO markets. CPV Maryland full consolidation provides additional US earnings contribution.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

OPC Energy is the first and leading private electricity manufacturer in Israel, generating and supplying electricity through a portfolio of natural gas combined cycle, cogeneration, solar, and wind power plants. The company provides integrated energy solutions combining centralized generation, on-site 'behind-the-meter' distributed energy at customer premises, and energy management services to large industrial and commercial customers in Israel and the United States (through CPV Group). Its current operational footprint includes 1.1 GW in Israel and 2.6 GW in the US, with 1.5 GW and 1.2 GW respectively in advanced development.

Product overview

OPC Energy is an integrated energy company operating as the first and leading private electricity manufacturer in Israel, with substantial US operations through its CPV Group subsidiary. The company offers a unified energy platform combining power generation from natural gas (core baseload capacity), solar, and wind sources, along with distributed 'behind the meter' solutions and energy management services. In Israel, the portfolio includes operational plants (Hadera, Mishor Rotem with cogeneration, Sorek 2 with desalination, Plugot, Gat development) totaling approximately 1.1 GW operational and 1.5 GW under development. In the US, CPV manages a diversified fleet of natural gas combined cycle plants (Fairview, Towantic, Shore, Valley, Three Rivers) and renewable projects (wind farms in Oklahoma, Maine; solar in Pennsylvania, Georgia, Maryland) with combined capacity of 2.6 GW operational and 1.2 GW under construction. The company provides electricity to major industrial customers including Intel, Bazan, and others, with energy storage capacity of 4.6 GWh and total installed capacity of 14.2 GW. Recent initiatives include a major 850 MW Hadera expansion, 460 MW data center PPA, and natural gas plant with carbon capture in Texas.

Differentiator

Problem solved

Functional benefit

Products and services

• Natural Gas Power Generation Large-scale electricity generation using natural gas through combined cycle and conventional power plants, serving both Israeli and US markets with high-efficiency production facilities. Includes Hadera, Mishor Rotem, Plugot, and US CPV plants such as Fairview, Towantic, Shore, and Valley.
• Cogeneration (Combined Heat and Power) Systems Natural gas cogeneration facilities that simultaneously produce electricity and useful thermal energy (steam) for private customers, including 144 MW at Mishor Rotem and up to 87 MW at the Sorek 2 SWRO desalination site.
• Solar Energy Solutions Solar power generation and integration services, including on-site 'behind the meter' distributed solar energy solutions deployed at customer premises in Israel and utility-scale solar installations in the US (Maple Hill Solar 126 MW in Pennsylvania, Stagecoach Solar 102 MW in Georgia).
• Wind Energy Generation Wind power generation through US-based facilities including Keenan Wind Farm (152 MW in Oklahoma, SPP market), Mountain Wind (81.5 MW in Maine, ISO-NE market), and Rogue's Wind (114 MW, under construction).
• Behind-the-Meter Distributed Energy Solutions On-site generation systems deployed at customer premises nationwide, providing over 120 MW of conventional and renewable (solar) power generation capacity, reducing transmission losses and enabling dedicated supply for industrial and commercial customers.
• Energy Management Solutions Integrated energy solutions combining centralized efficient production, distributed behind-the-meter energy, and energy management solutions to cover all customer energy needs.
• Electric Vehicle Charging Services EV charging services for vehicle fleets, offered as part of integrated energy solutions at customer premises as a complementary offering to OPC's electricity generation business.
• Hadera Expansion Power Project An ~850 MW natural gas-fired combined cycle power plant adjacent to the existing Hadera facility. The flagship development project for OPC Energy with secured capacity tariff approval, debt financing, and EPC contract.
• CPV Group US Power Portfolio US power generation operations through ~70%-owned CPV Group LP subsidiary, encompassing natural gas combined cycle plants and renewable energy projects across PJM, SPP, ISO-NE, SERC, and NYISO markets, with 2.6 GW operational and 1.2 GW under construction.

Quantifiable outcome

• 10% EBITDA increase to $124 million in Q1 2026
• +3 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Solel BonehcoreImplementation/ SI/ Consulting Partner · 3 June 2026Joint venture with Solel Boneh (partnered with international contractor) for EPC agreement to construct the 850 MW combined cycle natural gas-fired power plant at Hadera. Solel Boneh serves as the primary engineering, procurement, and construction contractor for the project.
• Israeli Electricity AuthoritycoreOthers · 29 May 2026Regulatory authority that approved capacity tariff for Hadera Expansion project at 3.31 agorot per kWh for approximately 25 years post-commercial operation. This regulatory approval is a key milestone enabling project financing and development.
• CPV Group LPcoreStrategic or Co-development Partner · 13 May 2026CPV Group LP is the US subsidiary (approximately 70% owned by OPC) through which OPC operates its US natural gas and renewable energy business. OPC indirectly holds approximately 70% of CPV Group. The subsidiary completed acquisition of full ownership of CPV Maryland power plant through asset swap transaction.

Scale indicators15 records

Recent moves11 records

Expansion highlights5 records

Broad incumbents

• Enel: Global integrated utility and IPP with large-scale renewable and conventional generation across multiple continents — comparable integrated generation and energy transition strategy.
• Engie: Global multi-national IPP with significant natural gas, renewables, and integrated energy solutions businesses — comparable international IPP diversification and customer focus.
• NextEra Energy: World's largest renewable energy generator and a major US utility through FPL — comparable diversified generation portfolio across wind, solar, and natural gas with energy storage integration.
• DTE Energy: US integrated utility with regulated electricity and natural gas businesses alongside significant renewable generation investments — comparable mix of regulated and merchant generation exposure.
• Iberdrola: Global renewable-heavy utility and IPP with significant wind, solar, and grid-scale storage — comparable integrated renewables-plus-storage business model targeting industrial customers.

Others

• Competitive Power Ventures (CPV): OPC's own US subsidiary and platform — included as a peer reference point given the operational overlap; develops and operates natural gas and renewable power plants across US ISO markets.

Direct peers

• Vistra Corp: Large US independent power producer with a diversified generation portfolio including natural gas, nuclear, coal, solar, and battery storage — comparable diversified IPP model and data center power supply focus.
• NRG Energy: US independent power producer and retail electricity provider with significant natural gas, coal, and renewable capacity — comparable IPP business model serving wholesale and large commercial customers.
• Calpine Energy: Largest US fleet of natural gas combined cycle and geothermal power plants, serving wholesale/ISO markets — directly comparable to OPC's CPV Group operations in PJM, SPP, ISO-NE, SERC, and NYISO.

Emerging players

• Orsted: Global leader in offshore wind and a developer of utility-scale solar and storage — comparable focus on energy transition generation and large-scale renewable project development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OPC Energy