Kenon Holdings Reports Strong Q2 2026 Growth and Arbitration Payoff

OPC Energy, where Kenon maintains a 46% stake, reported a quarterly net profit of $15 million, rising from just $1 million in the same period last year. This performance was supported by an Adjusted EBITDA of $131 million, a substantial jump from $90 million in Q2 2025. Revenue growth was fueled by both rising electricity demand in Israel and the consolidation of new U.S. power assets, including the Shore and Maryland plants.

Operational expansion remains a priority for the firm. In June, OPC achieved financial closing for the 850 MW Hadera expansion project in Israel and commenced construction. Concurrently, the company brought its 114 MW Rogue's Wind project in Pennsylvania online, attracting a $160 million investment from its tax partner. To bolster its capital structure, OPC issued NIS 600 million in Series E bonds in August.

Kenon’s stand-alone financial position remains robust, with cash reserves totaling $605 million as of late August and no material debt at the holding company level. The resolution of the Peruvian arbitration case provides a clear liquidity boost, marking the conclusion of a legal matter dating back to an October 2023 award.