On December 15, 2024, OPC Energy Ltd. announced the completion of acquisitions by CPV Group LP of additional interests in CPV Shore Holdings, LLC and CPV Maryland, LLC. Following these transactions, CPV's holdings in CPV Shore are approximately 69% and in CPV Maryland are approximately 75%.
These acquisitions, which were subject to fulfillment of conditions precedent, significantly increase Kenon's indirect ownership and control over these operating natural gas-fired power plants in the United States. This expansion enhances Kenon's revenue and earnings potential from these assets.
Additionally, OPC and its institutional financial investors completed a process to increase capital commitments for the partnership through which OPC holds CPV by $220 million. This additional funding strengthens CPV's financial capacity for future growth and development initiatives.
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