Nikita Goloshchekov

Ronny Bash

Shahar Keinan

- Kenon Holdings Ltd.'s subsidiary OPC Energy Ltd. announced the **financial closing** and **commencement of construction** of the **Basin Ranch Project**, a **1.35 GW gas-fired power plant** in Texas.  **[1611005_0001178913-25-003574_exhibit_99-1.htm:0]** 
- The estimated construction cost for the Basin Ranch Project is between approximately **$1.8 billion to $2 billion**.  **[1611005_0001178913-25-003574_exhibit_99-1.htm:1]** 
- CPV, a 70%-owned subsidiary of OPC, funded approximately **$470 million** in equity commitments for the project, including a **$300 million loan** and **$170 million cash** from OPC.  **[1611005_0001178913-25-003574_exhibit_99-1.htm:0]** 
- OPC's subsidiary CPV also entered into an agreement to acquire the remaining **30% ownership interest** in the Basin Ranch Project from GE Vernova for approximately **$371 million**, with closing expected by **February 28, 2026**.  **[1611005_0001178913-25-003574_exhibit_99-1.htm:0]** **[1611005_0001178913-25-003574_exhibit_99-1.htm:1]** 
- The commercial operation date for the Basin Ranch Project is estimated to be during **2029**.  **[1611005_0001178913-25-003574_exhibit_99-1.htm:1]**

Kenon's Subsidiary OPC Energy Announces Financial Closing and Construction Start for Basin Ranch Project, Acquires Remaining Interest

- Kenon Holdings Ltd.'s subsidiary, OPC Energy Ltd., announced that CPV Basin Ranch, LLC, has secured an approximately **$1.1 billion loan** (the "TEF Loan") from the Public Utility Commission of Texas through the Texas Energy Fund.  **[1611005_0001178913-25-003561_exhibit_99-1.htm:0]** 
- The **TEF Loan**, bearing an **interest rate of 3% per annum**, is designated to fund a portion of the **1.35 GW Basin Ranch natural gas project in Texas**.  **[1611005_0001178913-25-003561_exhibit_99-1.htm:0]** 
- Loan principal repayments are scheduled to begin on **March 31, 2031**, with quarterly payments of **0.25%** until March 31, 2032, and the loan **matures on September 30, 2045**.  **[1611005_0001178913-25-003561_exhibit_99-1.htm:0]** 
- To facilitate the financial closing, OPC has extended a **$150 million short-term bridge loan** to CPV, which is expected to be repaid soon after the TEF Loan's financial closing.  **[1611005_0001178913-25-003561_exhibit_99-1.htm:1]**

Kenon Subsidiary OPC Energy Secures $1.1 Billion Loan for Basin Ranch Project

- Kenon Holdings Ltd. reported its Q2 2025 results, with its primary subsidiary, OPC Energy Ltd. (OPC), generating **$196 million** in revenue and **$90 million** in Adjusted EBITDA including proportionate share in associated companies for the quarter ended June 30, 2025.  **[1611005_0001178913-25-003129_exhibit_99-1.htm:0]** **[1611005_0001178913-25-003129_exhibit_99-1.htm:1]** 
- OPC raised total gross proceeds of **NIS 1,750 million ($506 million)** through new share offerings in June and August 2025, with Kenon participating in the June offering for **NIS 316 million ($90 million)**.  **[1611005_0001178913-25-003129_exhibit_99-1.htm:0]**  Following these offerings, Kenon now holds approximately **49.8%** of OPC's shares.  **[1611005_0001178913-25-003129_exhibit_99-1.htm:3]** 
- The Israeli Government approved the plan to construct the Hadera 2 project, an **850MW** natural gas-fired power plant, with an estimated construction cost of **NIS 4.5 billion to NIS 5 billion ($1.3 billion to $1.5 billion)**.  **[1611005_0001178913-25-003129_exhibit_99-1.htm:0]** **[1611005_0001178913-25-003129_exhibit_99-1.htm:3]** 
- Kenon's board increased the authorized share repurchase plan by **$10 million** to a total of up to **$70 million**.  **[1611005_0001178913-25-003129_exhibit_99-1.htm:4]**

Kenon Holdings (KEN)