OPC Energy, Bank Leumi reach NIS4.85b financing agreement for Hadera power station
Categories: Banking & Finance, Projects & Energy
OPC Energy is nearing financial close for the construction of a major new power station near Hadera, with financing of approximately NIS 5 billion led by Bank Leumi. The project is expected to cost around USD 1 billion and will be built by Solel Boneh of Shikun & Binui together with a Spanish partner.
The planned facility will add approximately 850 MW of generation capacity near OPC’s existing power station and is expected to begin producing electricity around 2030. Reaching financial close before the end-of-June deadline would allow OPC to secure priority grid connection and higher availability payments from the Israel Electricity Authority.
Herzog represented Bank Leumi, led by Mark Phillips and Zara Gold.
FBC & Co. represented OPC Energy.
