Quarterly ResultMay 20, 2026, 06:08 AM
OPC Energy Q1 Adj. Net Income +18% to $33M; EBITDA +10%; Raises $257M
AI Summary
OPC Energy Ltd. reported Q1 2026 results with a 10% increase in consolidated EBITDA after proportionate consolidation to $124 million and an 18% rise in adjusted net income to $33 million. However, consolidated net income decreased by 44% to $14 million. Key developments include a $257 million capital raise, an improved credit rating outlook to positive (A1.il), and strategic project advancements in Israel and the US, such as the Basin Ranch acquisition and increased holdings in other power plants. The company noted geopolitical instability in Israel but stated no significant impact on business activities as of the report date.
Key Highlights
- Consolidated EBITDA after proportionate consolidation increased 10% to $124 million.
- Consolidated adjusted net income rose 18% to $33 million.
- Consolidated net income decreased 44% to $14 million.
- Consolidated adjusted FFO increased 9% to $75 million.
- Completed a capital raise of approximately $257 million in March 2026.
- Acquired remaining 30% rights in Basin Ranch project in February 2026.
- Acquired remaining 11% in Shore power plant in January 2026 and 25% in Maryland power plant in May 2026.
- Midroog affirmed A1.il credit rating, updated outlook from stable to positive in May 2026.
Price Impact
More from KEN